TPI Composites, Inc. (NASDAQ:TPIC) Given Consensus Rating of “Moderate Buy” by Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.08.

Several research firms recently weighed in on TPIC. Bank of America lifted their target price on shares of TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. boosted their price objective on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Jefferies Financial Group started coverage on TPI Composites in a research report on Thursday, October 17th. They issued a “hold” rating and a $5.00 target price for the company. Piper Sandler raised their target price on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a report on Monday, August 12th.

TPI Composites Price Performance

TPI Composites stock opened at $3.92 on Tuesday. TPI Composites has a 12 month low of $1.63 and a 12 month high of $5.75. The company has a market cap of $186.40 million, a price-to-earnings ratio of -0.85 and a beta of 1.91. The stock’s 50-day moving average is $4.20 and its 200-day moving average is $4.06.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The company had revenue of $309.82 million for the quarter, compared to analysts’ expectations of $313.76 million. Research analysts anticipate that TPI Composites will post -2.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new position in shares of TPI Composites in the 1st quarter valued at approximately $312,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TPI Composites in the first quarter valued at $77,000. Price T Rowe Associates Inc. MD boosted its stake in TPI Composites by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 3,737 shares during the last quarter. Tidal Investments LLC grew its holdings in TPI Composites by 69.0% during the 1st quarter. Tidal Investments LLC now owns 140,010 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 57,156 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of TPI Composites in the 1st quarter worth about $147,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.