Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $3.19

TPI Composites, Inc. (NASDAQ:TPIC) has received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $3.19.

A number of research firms have recently commented on TPIC. UBS Group lowered their target price on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group lowered TPI Composites from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $2.30 to $0.50 in a research report on Tuesday, March 18th. Roth Mkm reduced their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th.

Insider Transactions at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere purchased 80,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were purchased at an average price of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the acquisition, the insider now directly owns 4,397,232 shares in the company, valued at $6,683,792.64. This represents a 1.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 156,000 shares of company stock valued at $229,140. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On TPI Composites

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of TPI Composites by 281.4% during the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 44,666 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in TPI Composites by 8.2% during the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 22,005 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of TPI Composites by 433.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock valued at $663,000 after acquiring an additional 118,365 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of TPI Composites in the fourth quarter worth approximately $43,000. Finally, Geode Capital Management LLC raised its holdings in shares of TPI Composites by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock valued at $1,931,000 after purchasing an additional 16,034 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

TPI Composites Trading Down 1.0 %

Shares of NASDAQ TPIC opened at $0.96 on Friday. The firm has a fifty day simple moving average of $0.89 and a two-hundred day simple moving average of $1.58. The firm has a market capitalization of $45.92 million, a PE ratio of -0.19 and a beta of 2.05. TPI Composites has a 12 month low of $0.64 and a 12 month high of $5.75.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The company had revenue of $346.51 million for the quarter, compared to the consensus estimate of $364.83 million. On average, sell-side analysts predict that TPI Composites will post -0.9 earnings per share 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.