Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Target Price at $5.09

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.08.

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

TPI Composites Stock Performance

TPI Composites stock opened at $3.92 on Tuesday. The company has a market cap of $186.40 million, a P/E ratio of -0.85 and a beta of 1.91. TPI Composites has a one year low of $1.63 and a one year high of $5.75. The business has a fifty day moving average of $4.20 and a two-hundred day moving average of $4.06.

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

Institutional Investors Weigh In On TPI Composites

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in TPI Composites by 3.3% during the first quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock worth $6,654,000 after buying an additional 72,056 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of TPI Composites during the 2nd quarter worth about $1,421,000. King Luther Capital Management Corp acquired a new stake in shares of TPI Composites in the second quarter worth approximately $1,365,000. LRI Investments LLC purchased a new stake in TPI Composites in the first quarter valued at approximately $863,000. Finally, Green Alpha Advisors LLC increased its position in TPI Composites by 2.9% during the first quarter. Green Alpha Advisors LLC now owns 227,627 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 6,351 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.