Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $3.16

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $3.16.

Several equities research analysts have weighed in on the company. UBS Group lowered their price target on TPI Composites from $1.60 to $1.40 and set a “neutral” rating for the company in a report on Thursday, May 29th. Jefferies Financial Group downgraded TPI Composites from a “hold” rating to an “underperform” rating and decreased their price target for the company from $2.30 to $0.50 in a report on Tuesday, March 18th.

Institutional Trading of TPI Composites

Large investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in TPI Composites by 15.0% during the first quarter. Jane Street Group LLC now owns 256,295 shares of the industrial products company’s stock worth $207,000 after buying an additional 33,417 shares during the last quarter. AQR Capital Management LLC lifted its stake in TPI Composites by 19.7% during the 1st quarter. AQR Capital Management LLC now owns 196,862 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 32,395 shares in the last quarter. Brightline Capital Management LLC lifted its stake in TPI Composites by 2.2% during the 1st quarter. Brightline Capital Management LLC now owns 1,737,000 shares of the industrial products company’s stock worth $1,400,000 after acquiring an additional 37,000 shares in the last quarter. Nuveen LLC purchased a new stake in TPI Composites during the 1st quarter worth about $35,000. Finally, ASR Vermogensbeheer N.V. purchased a new stake in TPI Composites during the 1st quarter worth about $1,167,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

TPI Composites Price Performance

TPIC opened at $1.17 on Friday. The business’s 50-day moving average is $1.08 and its two-hundred day moving average is $1.22. TPI Composites has a 1 year low of $0.64 and a 1 year high of $5.26. The firm has a market capitalization of $56.92 million, a PE ratio of -0.24 and a beta of 2.10.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Monday, May 12th. The industrial products company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.51). The business had revenue of $332.45 million during the quarter, compared to analyst estimates of $310.50 million. As a group, sell-side analysts expect that TPI Composites will post -0.9 EPS for the current year.

TPI Composites Company Profile

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.