TPI Composites, Inc. (NASDAQ:TPIC) Receives Consensus Rating of “Hold” from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has been given a consensus rating of “Hold” by the nine brokerages that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $9.22.

Separately, Piper Sandler reiterated a “neutral” rating and set a $3.00 price objective (down previously from $4.00) on shares of TPI Composites in a report on Friday, February 23rd.

Hedge Funds Weigh In On TPI Composites

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC increased its holdings in shares of TPI Composites by 2.9% in the first quarter. Green Alpha Advisors LLC now owns 227,627 shares of the industrial products company’s stock valued at $662,000 after purchasing an additional 6,351 shares during the period. Los Angeles Capital Management LLC purchased a new stake in TPI Composites in the first quarter valued at approximately $147,000. Lighthouse Investment Partners LLC purchased a new position in TPI Composites during the 4th quarter worth approximately $90,000. Clean Energy Transition LLP acquired a new stake in TPI Composites during the 4th quarter valued at approximately $1,620,000. Finally, Oaktree Capital Management LP boosted its holdings in shares of TPI Composites by 556.5% in the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after acquiring an additional 3,899,903 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Stock Up 7.2 %

Shares of TPIC stock opened at $2.98 on Tuesday. The stock’s 50-day moving average is $2.79 and its 200 day moving average is $2.80. TPI Composites has a 1-year low of $1.63 and a 1-year high of $12.51.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $1.18. The firm had revenue of $296.99 million during the quarter, compared to the consensus estimate of $340.91 million. During the same quarter in the prior year, the business posted ($0.73) earnings per share. On average, analysts forecast that TPI Composites will post -1.47 EPS for the current fiscal year.

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.