Jefferies Financial Group Downgrades TPI Composites (NASDAQ:TPIC) to Underperform

Jefferies Financial Group lowered shares of TPI Composites (NASDAQ:TPIC - Free Report) from a hold rating to an underperform rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has $0.50 price objective on the industrial products company's stock, down from their previous price objective of $2.30.

TPIC has been the subject of a number of other research reports. StockNews.com raised TPI Composites from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Roth Mkm dropped their price target on TPI Composites from $2.75 to $1.50 and set a "neutral" rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of TPI Composites in a research note on Thursday, December 12th. Finally, UBS Group dropped their price target on TPI Composites from $2.40 to $1.60 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $3.19.

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TPI Composites Stock Performance

TPIC traded down $0.05 during midday trading on Tuesday, hitting $0.84. The stock had a trading volume of 2,319,053 shares, compared to its average volume of 1,068,326. The company has a market cap of $39.75 million, a P/E ratio of -0.16 and a beta of 2.07. TPI Composites has a 1 year low of $0.79 and a 1 year high of $5.75. The business has a fifty day moving average of $1.31 and a 200 day moving average of $2.39.

TPI Composites (NASDAQ:TPIC - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to analysts' expectations of $364.83 million. On average, equities research analysts anticipate that TPI Composites will post -0.9 earnings per share for the current year.

Insider Activity

In related news, major shareholder Construction Taahhut A.S. Dere purchased 49,000 shares of TPI Composites stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $1.59 per share, for a total transaction of $77,910.00. Following the completion of the acquisition, the insider now directly owns 4,229,232 shares of the company's stock, valued at $6,724,478.88. The trade was a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 205,000 shares of company stock worth $307,050 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TPI Composites

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alpine Global Management LLC bought a new position in shares of TPI Composites during the fourth quarter valued at $38,000. Squarepoint Ops LLC boosted its position in shares of TPI Composites by 469.2% during the fourth quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company's stock valued at $113,000 after buying an additional 49,263 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of TPI Composites during the fourth quarter valued at $105,000. Deutsche Bank AG boosted its position in shares of TPI Composites by 39.0% during the fourth quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company's stock valued at $340,000 after buying an additional 50,422 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of TPI Composites by 1.0% during the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company's stock valued at $2,085,000 after buying an additional 10,611 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

About TPI Composites

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.