TPI Composites (NASDAQ:TPIC) PT Raised to $3.50

TPI Composites (NASDAQ:TPIC) had its price objective upped by Piper Sandler from $3.00 to $3.50 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the stock. Bank of America increased their price target on shares of TPI Composites from $5.00 to $6.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Roth Mkm increased their target price on shares of TPI Composites from $3.30 to $3.75 and gave the company a neutral rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of TPI Composites from $8.00 to $9.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $6.61.

TPI Composites Trading Down 3.2 %

NASDAQ:TPIC opened at $4.28 on Monday. TPI Composites has a 12-month low of $1.63 and a 12-month high of $11.05. The firm has a market cap of $202.19 million, a PE ratio of -0.93 and a beta of 1.95. The stock has a fifty day moving average price of $4.49 and a 200 day moving average price of $3.50.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.59). The company had revenue of $299.06 million for the quarter, compared to the consensus estimate of $299.93 million. Equities analysts forecast that TPI Composites will post -2.11 EPS for the current year.

Hedge Funds Weigh In On TPI Composites

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Perigon Wealth Management LLC acquired a new stake in TPI Composites during the first quarter worth about $36,000. Cedar Point Capital Partners LLC acquired a new stake in TPI Composites during the 4th quarter worth approximately $41,000. SG Americas Securities LLC purchased a new position in TPI Composites in the second quarter valued at approximately $44,000. State Board of Administration of Florida Retirement System raised its holdings in TPI Composites by 55.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after buying an additional 5,930 shares during the period. Finally, Fiduciary Trust Co acquired a new position in TPI Composites during the fourth quarter valued at approximately $54,000. 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.