TPI Composites Inc (TPIC) Receives Average Rating of “Buy” from Analysts
Shares of TPI Composites Inc (NASDAQ:TPIC) have been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $27.17.
A number of research firms have commented on TPIC. J P Morgan Chase & Co raised shares of TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 target price for the company in a report on Thursday, November 30th. Zacks Investment Research lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. JMP Securities began coverage on shares of TPI Composites in a report on Thursday, November 16th. They set an “outperform” rating and a $33.00 target price for the company. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Canaccord Genuity lifted their target price on shares of TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 6th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of TPI Composites by 50.9% in the 1st quarter. Geode Capital Management LLC now owns 94,939 shares of the industrial products company’s stock valued at $1,804,000 after buying an additional 32,038 shares during the period. Morgan Stanley grew its holdings in shares of TPI Composites by 209.6% in the 1st quarter. Morgan Stanley now owns 183,555 shares of the industrial products company’s stock valued at $3,489,000 after buying an additional 124,267 shares during the period. Renaissance Technologies LLC acquired a new position in shares of TPI Composites in the 1st quarter valued at $1,042,000. Schwab Charles Investment Management Inc. grew its holdings in shares of TPI Composites by 5.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 24,734 shares of the industrial products company’s stock valued at $471,000 after buying an additional 1,368 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in shares of TPI Composites in the 1st quarter valued at $444,000. 35.12% of the stock is owned by hedge funds and other institutional investors.
TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.36. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The firm had revenue of $243.35 million during the quarter, compared to analysts’ expectations of $252.42 million. During the same quarter in the previous year, the company posted $0.08 EPS. TPI Composites’s revenue was up 22.3% on a year-over-year basis. equities research analysts anticipate that TPI Composites will post 1.3 earnings per share for the current year.
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About TPI Composites
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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