Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Target Price at $4.58

TPI Composites, Inc. (NASDAQ:TPIC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.58.

Several equities analysts have weighed in on TPIC shares. Bank of America reduced their price objective on TPI Composites from $7.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of TPI Composites in a report on Thursday, December 12th. Jefferies Financial Group began coverage on TPI Composites in a report on Thursday, October 17th. They issued a "hold" rating and a $5.00 price target for the company. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th.

Institutional Investors Weigh In On TPI Composites

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP raised its position in shares of TPI Composites by 24.9% in the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company's stock worth $129,000 after buying an additional 5,653 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of TPI Composites by 8.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company's stock worth $461,000 after buying an additional 8,550 shares in the last quarter. Peoples Bank KS raised its position in shares of TPI Composites by 100.0% in the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company's stock worth $38,000 after buying an additional 10,000 shares in the last quarter. Cedar Point Capital Partners LLC raised its position in shares of TPI Composites by 100.0% in the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company's stock worth $38,000 after buying an additional 10,000 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of TPI Composites in the third quarter worth $57,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

TPI Composites Trading Down 3.8 %

Shares of TPIC stock traded down $0.06 during trading on Thursday, hitting $1.51. The company's stock had a trading volume of 806,512 shares, compared to its average volume of 1,122,356. The business has a fifty day moving average of $1.74 and a 200-day moving average of $3.21. TPI Composites has a 52 week low of $1.10 and a 52 week high of $5.75. The company has a market cap of $71.82 million, a PE ratio of -0.40 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.47). The business had revenue of $380.76 million during the quarter, compared to analyst estimates of $346.50 million. During the same period last year, the business posted ($1.71) earnings per share. As a group, research analysts predict that TPI Composites will post -3.8 EPS for the current year.

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.