TPI Composites, Inc. (NASDAQ:TPIC) Receives $4.74 Consensus PT from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has been given an average recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to 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.

A number of equities analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 target price (down from $4.00) on shares of TPI Composites in a research report on Friday. Evercore ISI raised TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Bank of America cut their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler boosted their target price on TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th.

Hedge Funds Weigh In On TPI Composites

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TPI Composites during the first quarter valued at approximately $77,000. Susquehanna Fundamental Investments LLC purchased a new stake in TPI Composites during the 1st quarter worth $312,000. State Board of Administration of Florida Retirement System lifted its holdings 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 worth $49,000 after buying an additional 5,930 shares in the last quarter. Monaco Asset Management SAM purchased a new position in TPI Composites in the 1st quarter valued at about $146,000. Finally, Vanguard Group Inc. grew its stake in shares of 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 valued at $6,654,000 after acquiring an additional 72,056 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Price Performance

Shares of TPIC stock opened at $2.17 on Friday. The firm’s 50-day simple moving average is $3.88 and its 200-day simple moving average is $4.10. TPI Composites has a 1-year low of $1.90 and a 1-year high of $5.75. The firm has a market cap of $103.21 million, a P/E ratio of -0.58 and a beta of 1.93.

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.