TPI Composites, Inc. (NASDAQ:TPIC) Given Average Rating of “Hold” by Brokerages

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $4.58.

Several equities research analysts recently weighed in on TPIC shares. Jefferies Financial Group initiated coverage on TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 target price for the company. Morgan Stanley restated an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Bank of America dropped their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th.

TPI Composites Trading Up 7.3 %

TPI Composites stock opened at $1.92 on Friday. The company has a fifty day simple moving average of $2.13 and a 200-day simple moving average of $3.46. The stock has a market cap of $91.32 million, a P/E ratio of -0.51 and a beta of 1.82. TPI Composites has a 12-month low of $1.10 and a 12-month high of $5.75.

Institutional Investors Weigh In On TPI Composites

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in TPI Composites by 433.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock valued at $663,000 after acquiring an additional 118,365 shares during the last quarter. Barclays PLC increased its holdings in shares of TPI Composites by 281.4% in the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 44,666 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of TPI Composites during the third quarter worth approximately $57,000. Erste Asset Management GmbH acquired a new stake in shares of TPI Composites during the third quarter worth $7,854,000. Finally, Brightline Capital Management LLC grew its position in TPI Composites by 14.3% in the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after buying an additional 208,000 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Company Profile

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.