TPI Composites (NASDAQ:TPIC) PT Lowered to $56.00

TPI Composites (NASDAQ:TPIC) had its price target cut by equities researchers at Morgan Stanley from $59.00 to $56.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target would suggest a potential upside of 60.32% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Cowen dropped their price target on TPI Composites from $65.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, July 23rd. Seaport Res Ptn restated a “buy” rating on shares of TPI Composites in a research note on Thursday, July 15th. Raymond James dropped their price target on TPI Composites from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 5th. Zacks Investment Research raised TPI Composites from a “strong sell” rating to a “hold” rating in a report on Thursday, September 23rd. Finally, Bank of America began coverage on TPI Composites in a report on Monday, August 30th. They issued an “underperform” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, TPI Composites currently has an average rating of “Buy” and an average price target of $54.23.

Shares of TPI Composites stock traded up $0.01 on Thursday, reaching $34.93. 7,153 shares of the company were exchanged, compared to its average volume of 746,686. TPI Composites has a one year low of $30.45 and a one year high of $81.36. The company has a 50-day moving average of $36.83 and a 200 day moving average of $43.75. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 249.37 and a beta of 1.58.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, August 5th. The industrial products company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.32). TPI Composites had a net margin of 0.33% and a return on equity of 2.42%. The business had revenue of $458.84 million during the quarter, compared to the consensus estimate of $458.79 million. Analysts predict that TPI Composites will post -1.67 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in TPIC. BlackRock Inc. grew its stake in TPI Composites by 31.2% during the second quarter. BlackRock Inc. now owns 3,667,591 shares of the industrial products company’s stock worth $177,585,000 after buying an additional 872,474 shares in the last quarter. Caxton Associates LP acquired a new stake in TPI Composites during the first quarter worth about $45,189,000. Morgan Stanley grew its stake in TPI Composites by 39.3% during the second quarter. Morgan Stanley now owns 1,639,247 shares of the industrial products company’s stock worth $79,372,000 after buying an additional 462,156 shares in the last quarter. M Holdings Securities Inc. acquired a new stake in TPI Composites during the second quarter worth about $16,073,000. Finally, Handelsbanken Fonder AB grew its stake in TPI Composites by 64.2% during the second quarter. Handelsbanken Fonder AB now owns 679,018 shares of the industrial products company’s stock worth $32,878,000 after buying an additional 265,510 shares in the last quarter. Hedge funds and other institutional investors own 84.94% of the company’s stock.

TPI Composites Company Profile

TPI Composites, Inc is a holding company, which engages in the manufacture of composite wind blades for the wind energy market. It operates through the following segments: United States (US); Asia; Mexico; and Europe, the Middle East, and Africa (EMEA). The US segment includes the production of wind blades in Newton, Iowa plant; and manufacturing of precision molding and assembly systems used for the manufacture of wind blades in Warren, Rhode Island facility, and composite solutions for the transportation industry.

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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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