Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $4.74

TPI Composites, Inc. (NASDAQ:TPIC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $4.74.

Several equities analysts have recently commented on the company. 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 research note on Tuesday, July 16th. Evercore ISI raised shares of TPI Composites to a "strong-buy" rating in a research report on Monday, August 12th. Piper Sandler increased their price target 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. Jefferies Financial Group assumed coverage on TPI Composites in a research note on Thursday, October 17th. They set a "hold" rating and a $5.00 price objective on the stock. Finally, Bank of America decreased their target price on TPI Composites from $7.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday.

Institutional Trading of TPI Composites

Several hedge funds have recently made changes to their positions in TPIC. SG Americas Securities LLC acquired a new position in shares of TPI Composites during the second quarter valued at $44,000. State Board of Administration of Florida Retirement System boosted its stake in TPI Composites by 55.2% during the 1st 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 purchasing an additional 5,930 shares during the period. Intech Investment Management LLC bought a new position in TPI Composites in the 3rd quarter worth about $65,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TPI Composites in the first quarter valued at approximately $77,000. Finally, Price T Rowe Associates Inc. MD raised its stake in TPI Composites by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company's stock valued at $100,000 after acquiring an additional 3,737 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

TPI Composites Price Performance

NASDAQ TPIC traded up $0.02 on Friday, reaching $2.82. The company had a trading volume of 1,441,155 shares, compared to its average volume of 908,309. TPI Composites has a 1 year low of $1.90 and a 1 year high of $5.75. The firm has a 50-day moving average of $4.01 and a 200-day moving average of $4.11. The firm has a market capitalization of $133.86 million, a PE ratio of -0.75 and a beta of 1.93.

TPI Composites (NASDAQ:TPIC - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.54). The company had revenue of $309.82 million for the quarter, compared to analyst estimates of $313.76 million. As a group, sell-side analysts expect that TPI Composites will post -2.88 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.