TPI Composites (NASDAQ:TPIC) Stock Rating Upgraded by StockNews.com

TPI Composites (NASDAQ:TPIC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

TPIC has been the topic of several other reports. Morgan Stanley reissued an “underweight” rating and set a $2.00 price objective (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Roth Mkm cut their price target on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. Bank of America decreased their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.83.

TPI Composites Stock Down 7.6 %

TPIC opened at $1.22 on Monday. TPI Composites has a 52 week low of $1.10 and a 52 week high of $5.75. The stock has a market cap of $58.08 million, a PE ratio of -0.24 and a beta of 1.82. The business has a 50 day moving average of $1.58 and a 200-day moving average of $2.76.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The business had revenue of $346.51 million for the quarter, compared to analyst estimates of $364.83 million. Equities analysts anticipate that TPI Composites will post -0.9 EPS for the current year.

Hedge Funds Weigh In On TPI Composites

Institutional investors and hedge funds have recently modified their holdings of the company. Alpine Global Management LLC bought a new position in TPI Composites in the fourth quarter valued at about $38,000. Squarepoint Ops LLC lifted its stake in shares of TPI Composites by 469.2% in the 4th quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 49,263 shares during the period. Graham Capital Management L.P. purchased a new position in shares of TPI Composites in the fourth quarter worth approximately $105,000. Deutsche Bank AG grew its position in TPI Composites by 39.0% during the fourth quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock valued at $340,000 after buying an additional 50,422 shares during the period. Finally, Bank of America Corp DE increased its holdings in TPI Composites by 1.0% during the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after buying an additional 10,611 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.