TPI Composites, Inc. (NASDAQ:TPIC) Receives $3.19 Average Price Target from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.19.

A number of analysts have recently issued reports on the company. Roth Mkm lowered their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research report on Friday, February 21st. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Jefferies Financial Group lowered TPI Composites from a “hold” rating to an “underperform” rating and decreased their price target for the company from $2.30 to $0.50 in a research note on Tuesday, March 18th. Finally, UBS Group dropped their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research note on Tuesday, February 25th.

Insider Transactions at TPI Composites

In related news, major shareholder Construction Taahhut A.S. Dere bought 49,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was bought at an average cost of $1.59 per share, with a total value of $77,910.00. Following the completion of the purchase, the insider now owns 4,229,232 shares in the company, valued at approximately $6,724,478.88. The trade was a 1.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 205,000 shares of company stock worth $307,050. Insiders own 3.70% of the company’s stock.

Institutional Trading of TPI Composites

Several hedge funds have recently modified their holdings of the stock. Cerity Partners LLC acquired a new stake in TPI Composites in the fourth quarter worth about $25,000. Two Sigma Securities LLC bought a new position in shares of TPI Composites in the 4th quarter valued at about $31,000. Dark Forest Capital Management LP acquired a new stake in shares of TPI Composites during the 4th quarter worth approximately $33,000. Cedar Point Capital Partners LLC raised its stake in shares of TPI Composites by 100.0% during the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the last quarter. Finally, Peoples Bank KS lifted its holdings in TPI Composites by 100.0% in the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after buying an additional 10,000 shares during the period. 75.24% of the stock is owned by institutional investors.

TPI Composites Trading Down 7.2 %

Shares of TPI Composites stock opened at $0.76 on Tuesday. The company has a market cap of $36.23 million, a price-to-earnings ratio of -0.15 and a beta of 2.06. TPI Composites has a 1 year low of $0.64 and a 1 year high of $5.75. The company’s fifty day simple moving average is $1.07 and its 200-day simple moving average is $2.03.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The company had revenue of $346.51 million for the quarter, compared to analyst estimates of $364.83 million. As a group, research analysts forecast that TPI Composites will post -0.9 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.