Morgan Stanley Reaffirms "Underweight" Rating for TPI Composites (NASDAQ:TPIC)

TPI Composites (NASDAQ:TPIC - Get Free Report)'s stock had its "underweight" rating reaffirmed by analysts at Morgan Stanley in a report issued on Friday, Marketbeat Ratings reports. They presently have a $2.00 price target on the industrial products company's stock, down from their prior price target of $4.00. Morgan Stanley's price target would indicate a potential downside of 8.68% from the stock's current price.

TPIC has been the topic of several other research reports. Jefferies Financial Group started coverage on TPI Composites in a research note on Thursday, October 17th. They issued a "hold" rating and a $5.00 price target on the stock. Bank of America cut their target price on TPI Composites from $7.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Piper Sandler lifted their price objective on shares of TPI Composites from $3.50 to $3.70 and gave the company a "neutral" rating in a report on Monday, August 12th. Finally, Evercore ISI raised shares of TPI Composites to a "strong-buy" rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.58.

TPI Composites Price Performance

Shares of TPI Composites stock traded down $0.19 on Friday, hitting $2.19. The company had a trading volume of 1,139,054 shares, compared to its average volume of 914,627. TPI Composites has a twelve month low of $1.90 and a twelve month high of $5.75. The stock has a 50-day moving average of $3.88 and a 200-day moving average of $4.10. The firm has a market capitalization of $104.16 million, a P/E ratio of -0.59 and a beta of 1.93.

Hedge Funds Weigh In On TPI Composites

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in TPI Composites in the second quarter valued at $44,000. State Board of Administration of Florida Retirement System lifted its stake in TPI Composites by 55.2% in 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 last quarter. Quantinno Capital Management LP bought a new position in TPI Composites during the third quarter worth about $57,000. Intech Investment Management LLC acquired a new position in TPI Composites during the third quarter worth approximately $65,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in TPI Composites in the first quarter valued at approximately $77,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.