UBS Group Lowers TPI Composites (NASDAQ:TPIC) Price Target to $1.40

TPI Composites (NASDAQ:TPIC - Get Free Report) had its price objective reduced by investment analysts at UBS Group from $1.60 to $1.40 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. UBS Group's price objective suggests a potential upside of 13.82% from the company's current price.

A number of other equities analysts have also recently commented on the stock. Roth Mkm decreased their target price on shares of TPI Composites from $2.75 to $1.50 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group cut shares of TPI Composites from a "hold" rating to an "underperform" rating and decreased their price objective for the company from $2.30 to $0.50 in a research report on Tuesday, March 18th. Finally, Wall Street Zen upgraded shares of TPI Composites from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TPI Composites has a consensus rating of "Hold" and an average price target of $3.16.

TPI Composites Stock Performance

NASDAQ:TPIC traded down $0.02 during trading hours on Thursday, reaching $1.23. The company's stock had a trading volume of 449,184 shares, compared to its average volume of 980,452. The firm has a market capitalization of $59.84 million, a price-to-earnings ratio of -0.24 and a beta of 2.05. The firm has a 50-day simple moving average of $0.93 and a 200-day simple moving average of $1.32. TPI Composites has a 1 year low of $0.64 and a 1 year high of $5.75.

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

Hedge Funds Weigh In On TPI Composites

A number of hedge funds have recently modified their holdings of the company. Barclays PLC boosted its stake in shares of TPI Composites by 14.9% during the 4th quarter. Barclays PLC now owns 69,542 shares of the industrial products company's stock valued at $131,000 after purchasing an additional 9,004 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of TPI Composites by 1.0% during 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. Cerity Partners LLC bought a new stake in shares of TPI Composites during the 4th quarter valued at about $25,000. Geode Capital Management LLC boosted its stake in shares of TPI Composites by 1.6% during 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, Two Sigma Securities LLC bought a new stake in shares of TPI Composites during the 4th quarter valued at about $31,000. 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.