TPI Composites (NASDAQ:TPIC) Stock Rating Lowered by Jefferies Financial Group

TPI Composites (NASDAQ:TPIC) was downgraded by equities researchers at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $0.50 price objective on the industrial products company’s stock, down from their prior price objective of $2.30. Jefferies Financial Group’s target price indicates a potential downside of 50.74% from the stock’s current price.

A number of other equities analysts have also recently issued reports on TPIC. UBS Group decreased their target price on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Roth Mkm cut their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.19.

TPI Composites Trading Down 2.4 %

Shares of TPI Composites stock opened at $1.02 on Tuesday. TPI Composites has a 52 week low of $0.96 and a 52 week high of $5.75. The stock has a market cap of $48.32 million, a PE ratio of -0.20 and a beta of 2.07. The company’s 50-day moving average price is $1.34 and its two-hundred day moving average price is $2.42.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) 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 analyst estimates of $364.83 million. On average, equities analysts predict that TPI Composites will post -0.9 EPS for the current fiscal year.

Insider Activity at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $95,040.00. Following the completion of the acquisition, the insider now owns 4,295,232 shares in the company, valued at approximately $6,185,134.08. The trade was a 1.56 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 205,000 shares of company stock valued at $307,050. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH purchased a new stake in shares of TPI Composites during the 3rd quarter worth about $7,854,000. Wells Fargo & Company MN raised its position in TPI Composites by 104.1% during the fourth quarter. Wells Fargo & Company MN now owns 28,035 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 718,573 shares in the last quarter. Brightline Capital Management LLC raised its position in TPI Composites by 14.3% during the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after acquiring an additional 208,000 shares in the last quarter. Jane Street Group LLC lifted its stake in TPI Composites by 228.3% in the fourth quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 154,994 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in TPI Composites by 433.6% in the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after acquiring an additional 118,365 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.