TPI Composites (NASDAQ:TPIC) PT Raised to $3.75

TPI Composites (NASDAQ:TPIC) had its price objective increased by Roth Mkm from $3.30 to $3.75 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Roth Mkm’s price objective would suggest a potential downside of 6.95% from the stock’s current price.

Separately, Piper Sandler restated a “neutral” rating and set a $3.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, TPI Composites presently has a consensus rating of “Hold” and an average price target of $8.53.

TPI Composites Stock Performance

Shares of TPI Composites stock opened at $4.03 on Monday. The company has a market capitalization of $191.30 million, a P/E ratio of -0.88 and a beta of 1.96. TPI Composites has a 1 year low of $1.63 and a 1 year high of $12.24. The company’s fifty day moving average is $2.89 and its two-hundred day moving average is $2.85.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $1.18. The company had revenue of $296.99 million during the quarter, compared to analyst estimates of $340.91 million. During the same quarter last year, the firm earned ($0.73) EPS. As a group, equities analysts expect that TPI Composites will post -1.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPIC. Graham Capital Management L.P. increased its position in TPI Composites by 359.4% during the third quarter. Graham Capital Management L.P. now owns 124,474 shares of the industrial products company’s stock worth $330,000 after purchasing an additional 97,377 shares during the last quarter. SG Americas Securities LLC boosted its holdings in TPI Composites by 115.9% in the fourth quarter. SG Americas Securities LLC now owns 75,939 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 40,758 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of TPI Composites during the third quarter worth approximately $680,000. Rock Point Advisors LLC grew its holdings in TPI Composites by 98.9% during the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after acquiring an additional 314,715 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in TPI Composites by 342.5% in the third quarter. Quadrature Capital Ltd now owns 63,114 shares of the industrial products company’s stock valued at $167,000 after buying an additional 48,852 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.