TPI Composites, Inc. (NASDAQ:TPIC) Receives $4.58 Consensus Target Price from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.58.

TPIC has been the topic of a number of recent research reports. Bank of America decreased their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Morgan Stanley reissued an “underweight” rating and set a $2.00 price target (down from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Finally, Jefferies Financial Group started coverage on shares of TPI Composites in a research note on Thursday, October 17th. They issued a “hold” rating and a $5.00 price objective for the company.

Institutional Investors Weigh In On TPI Composites

Institutional investors and hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP purchased a new position in TPI Composites in the 3rd quarter worth about $57,000. Intech Investment Management LLC purchased a new stake in TPI Composites during the third quarter valued at approximately $65,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TPI Composites during the 3rd quarter valued at $88,000. Quantbot Technologies LP boosted its holdings in TPI Composites by 24.9% in the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 5,653 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in TPI Composites in the 3rd quarter worth approximately $155,000. 75.24% of the stock is owned by institutional investors.

TPI Composites Stock Performance

TPIC stock opened at $1.79 on Friday. The business’s 50-day moving average is $2.16 and its two-hundred day moving average is $3.48. TPI Composites has a fifty-two week low of $1.10 and a fifty-two week high of $5.75. The company has a market cap of $85.14 million, a price-to-earnings ratio of -0.48 and a beta of 1.82.

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.