TPI Composites, Inc. (NASDAQ:TPIC) Receives $9.22 Consensus Target Price from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has received an average recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.22.

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $3.00 price objective (down from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd.

Institutional Trading of TPI Composites

Hedge funds have recently made changes to their positions in the company. Oaktree Capital Management LP raised its position in shares of TPI Composites by 556.5% during the fourth quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock worth $19,047,000 after acquiring an additional 3,899,903 shares during the last quarter. Covalis Capital LLP bought a new position in shares of TPI Composites during the third quarter worth about $2,163,000. Handelsbanken Fonder AB raised its position in shares of TPI Composites by 43.1% during the third quarter. Handelsbanken Fonder AB now owns 1,299,695 shares of the industrial products company’s stock worth $3,444,000 after acquiring an additional 391,463 shares during the last quarter. Clean Energy Transition LLP bought a new position in shares of TPI Composites during the fourth quarter worth about $1,620,000. Finally, Rock Point Advisors LLC raised its position in shares of TPI Composites by 98.9% during the third quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after acquiring an additional 314,715 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Stock Performance

TPIC opened at $2.39 on Tuesday. The firm has a market cap of $113.45 million, a P/E ratio of -0.57 and a beta of 2.03. TPI Composites has a 52-week low of $1.63 and a 52-week high of $12.53. The business’s fifty day moving average is $2.79 and its 200-day moving average is $2.79.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.91) by $1.18. The business had revenue of $296.99 million during the quarter, compared to analyst estimates of $340.91 million. During the same period last year, the business earned ($0.73) earnings per share. On average, research analysts predict that TPI Composites will post -1.47 earnings per share for the current fiscal year.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.