TPI Composites, Inc. (NASDAQ:TPIC) Receives Consensus Recommendation of "Hold" from Analysts

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

TPIC has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of TPI Composites from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Jefferies Financial Group cut shares of TPI Composites from a "hold" rating to an "underperform" rating and lowered their price target for the stock from $2.30 to $0.50 in a research note on Tuesday, March 18th. UBS Group lowered their price target 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. Finally, Roth Mkm lowered their price target on shares of TPI Composites from $2.75 to $1.50 and set a "neutral" rating on the stock in a research note on Friday, February 21st.

TPI Composites Stock Performance

TPIC traded down $0.02 during trading on Wednesday, hitting $1.23. The stock had a trading volume of 449,184 shares, compared to its average volume of 973,524. The firm has a market capitalization of $59.84 million, a P/E ratio of -0.24 and a beta of 2.05. The company's 50-day moving average price is $0.93 and its 200 day moving average price is $1.31. TPI Composites has a twelve month low of $0.64 and a twelve month high of $5.75.

TPI Composites (NASDAQ:TPIC - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The industrial products company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.51). The firm had revenue of $332.45 million for the quarter, compared to analyst estimates of $310.50 million. As a group, equities analysts expect that TPI Composites will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TPI Composites

Institutional investors and hedge funds have recently made changes to their positions in the business. Brightline Capital Management LLC lifted its holdings in TPI Composites by 2.2% in the 1st quarter. Brightline Capital Management LLC now owns 1,737,000 shares of the industrial products company's stock valued at $1,400,000 after purchasing an additional 37,000 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in TPI Composites in the 1st quarter valued at about $1,167,000. Bank of America Corp DE lifted its holdings in TPI Composites by 1.0% in the 4th quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company's stock valued at $2,085,000 after purchasing an additional 10,611 shares in the last quarter. Geode Capital Management LLC lifted its holdings in TPI Composites by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company's stock valued at $1,931,000 after purchasing an additional 16,034 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in TPI Composites by 8.2% in the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company's stock valued at $548,000 after purchasing an additional 22,005 shares in 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.