StockNews.com Upgrades TPI Composites (NASDAQ:TPIC) to Hold

TPI Composites (NASDAQ:TPIC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

A number of other equities analysts have also recently weighed in on the company. Bank of America decreased their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Roth Mkm decreased their price target on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday. Morgan Stanley restated an “underweight” rating and issued a $2.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.20.

TPI Composites Trading Down 9.3 %

Shares of NASDAQ:TPIC traded down $0.14 during trading on Monday, reaching $1.32. The company had a trading volume of 1,040,127 shares, compared to its average volume of 992,803. The company has a fifty day moving average of $1.58 and a two-hundred day moving average of $2.78. The stock has a market capitalization of $62.84 million, a P/E ratio of -0.26 and a beta of 1.82. TPI Composites has a 12 month low of $1.10 and a 12 month high of $5.75.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPIC. Cerity Partners LLC bought a new stake in TPI Composites during the 4th quarter valued at $25,000. Two Sigma Securities LLC bought a new stake in TPI Composites in the 4th quarter worth $31,000. Dark Forest Capital Management LP purchased a new position in shares of TPI Composites in the fourth quarter valued at about $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 valued at $38,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Peoples Bank KS boosted its holdings in shares of TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 10,000 shares during the period. Institutional investors 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.