TPI Composites, Inc. (NASDAQ:TPIC) Receives $10.50 Average Target Price from Brokerages

Shares of TPI Composites, Inc. (NASDAQ:TPIC - Get Free Report) have been given a consensus recommendation of "Hold" by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.50.

A number of research analysts have recently weighed in on TPIC shares. Morgan Stanley dropped their target price on TPI Composites from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, December 8th. Piper Sandler restated a "neutral" rating and issued a $3.00 target price (down previously from $4.00) on shares of TPI Composites in a report on Friday, February 23rd.

TPI Composites Stock Up 2.5 %

NASDAQ:TPIC traded up $0.07 on Friday, hitting $2.91. The stock had a trading volume of 969,978 shares, compared to its average volume of 1,133,603. The business's fifty day moving average is $2.86 and its 200 day moving average is $2.82. The company has a market cap of $137.47 million, a PE ratio of -0.70 and a beta of 2.03. TPI Composites has a 52 week low of $1.63 and a 52 week high of $13.68.

TPI Composites (NASDAQ:TPIC - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $1.18. The business had revenue of $296.99 million for the quarter, compared to analyst estimates of $340.91 million. TPI Composites had a negative return on equity of 623.20% and a negative net margin of 8.19%. During the same quarter in the prior year, the company earned ($0.73) earnings per share. Equities analysts predict that TPI Composites will post -1.36 earnings per share for the current fiscal year.

Institutional Trading of TPI Composites

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in TPI Composites by 9.8% in the second quarter. BlackRock Inc. now owns 4,953,605 shares of the industrial products company's stock worth $51,369,000 after buying an additional 440,198 shares during the last quarter. Oaktree Capital Management LP grew its position in shares of TPI Composites by 556.5% in the fourth quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company's stock valued at $19,047,000 after purchasing an additional 3,899,903 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of TPI Composites by 66.3% in the fourth quarter. Point72 Asset Management L.P. now owns 3,240,430 shares of the industrial products company's stock valued at $13,415,000 after purchasing an additional 1,291,630 shares in the last quarter. Vanguard Group Inc. grew its position in shares of TPI Composites by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,214,541 shares of the industrial products company's stock valued at $9,168,000 after purchasing an additional 18,977 shares in the last quarter. Finally, State Street Corp grew its position in shares of TPI Composites by 3.2% in the first quarter. State Street Corp now owns 2,132,452 shares of the industrial products company's stock valued at $27,828,000 after purchasing an additional 65,965 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

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.