Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $3.19

TPI Composites, Inc. (NASDAQ:TPIC - Get Free Report) has received a consensus recommendation of "Hold" from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $3.16.

A number of research analysts recently weighed in on TPIC shares. 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 research note on Friday, February 21st. Wall Street Zen raised shares of 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 reduced their price objective for the stock from $2.30 to $0.50 in a research note on Tuesday, March 18th. Finally, UBS Group lowered their target price on shares of TPI Composites from $1.60 to $1.40 and set a "neutral" rating on the stock in a research note on Thursday.

TPI Composites Stock Performance

Shares of TPI Composites stock traded down $0.02 during midday trading on Wednesday, reaching $1.23. 449,184 shares of the company's stock traded hands, compared to its average volume of 980,452. TPI Composites has a 52 week low of $0.64 and a 52 week high of $5.75. The company's 50 day simple moving average is $0.93 and its 200 day simple moving average is $1.32. The company has a market cap of $59.84 million, a price-to-earnings ratio of -0.24 and a beta of 2.05.

TPI Composites (NASDAQ:TPIC - Get Free Report) last posted its 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 the consensus estimate of $310.50 million. As a group, equities research analysts predict that TPI Composites will post -0.9 earnings per share for the current year.

Institutional Trading of TPI Composites

Several hedge funds and other institutional investors have recently bought and sold shares of TPIC. ASR Vermogensbeheer N.V. bought a new stake in shares of TPI Composites in the first quarter valued at about $1,167,000. Wells Fargo & Company MN raised its holdings in TPI Composites by 104.1% in the 4th 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. Jane Street Group LLC lifted its position 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 period. JPMorgan Chase & Co. grew 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 purchasing an additional 118,365 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of TPI Composites by 210.6% in the fourth quarter. Swedbank AB now owns 131,063 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 88,868 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.