TPI Composites, Inc. (NASDAQ:TPIC) Receives Average Recommendation of “Hold” from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has earned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3.19.

Several brokerages recently weighed in on TPIC. UBS Group cut their price target 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. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Jefferies Financial Group cut shares of TPI Composites from a “hold” rating to an “underperform” rating and dropped their price target for the company from $2.30 to $0.50 in a research note on Tuesday, March 18th. Finally, Roth Mkm reduced their price objective on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research report on Friday, February 21st.

Insider Buying and Selling at TPI Composites

In other TPI Composites news, major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $1.44 per share, for a total transaction of $95,040.00. Following 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 205,000 shares of company stock worth $307,050. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted 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 worth $53,000 after buying an additional 718,573 shares in the last quarter. Jane Street Group LLC increased its stake in shares of TPI Composites by 228.3% in the 4th quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 154,994 shares during the last quarter. JPMorgan Chase & Co. raised 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 worth $663,000 after acquiring an additional 118,365 shares during the period. Swedbank AB boosted its position in shares of TPI Composites by 210.6% during the 4th quarter. Swedbank AB now owns 131,063 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 88,868 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of TPI Composites in the fourth quarter valued at about $145,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

TPI Composites Price Performance

NASDAQ:TPIC opened at $0.68 on Tuesday. The company has a 50 day moving average price of $1.15 and a 200-day moving average price of $2.12. TPI Composites has a 1-year low of $0.64 and a 1-year high of $5.75. The firm has a market cap of $32.60 million, a price-to-earnings ratio of -0.14 and a beta of 2.06.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate 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 anticipate that TPI Composites will post -0.9 earnings per share for the current fiscal 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.