TPI Composites (NASDAQ:TPIC - Get Free Report) had its target price decreased by UBS Group from $1.60 to $1.40 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. UBS Group's price objective would suggest a potential upside of 16.67% from the stock's previous close.
TPIC has been the topic of several other reports. Wall Street Zen raised TPI Composites from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Roth Mkm dropped their target price on TPI Composites from $2.75 to $1.50 and set a "neutral" rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group lowered TPI Composites from a "hold" rating to an "underperform" rating and reduced their price target for the stock from $2.30 to $0.50 in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $3.16.
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TPI Composites Price Performance
Shares of TPI Composites stock remained flat at $1.20 during trading hours on Thursday. The stock had a trading volume of 474,099 shares, compared to its average volume of 971,536. The firm has a market capitalization of $58.38 million, a price-to-earnings ratio of -0.24 and a beta of 2.05. TPI Composites has a 52 week low of $0.64 and a 52 week high of $5.75. The business's 50-day simple moving average is $0.93 and its 200 day simple moving average is $1.31.
TPI Composites (NASDAQ:TPIC - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The industrial products company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.51). The company had revenue of $332.45 million for the quarter, compared to analysts' expectations of $310.50 million. On average, equities analysts predict that TPI Composites will post -0.9 earnings per share for the current fiscal year.
Institutional Investors Weigh In On TPI Composites
A number of hedge funds have recently bought and sold shares of TPIC. Swedbank AB grew its position in shares of TPI Composites by 210.6% during the fourth quarter. Swedbank AB now owns 131,063 shares of the industrial products company's stock worth $248,000 after buying an additional 88,868 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in TPI Composites by 8.2% during the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company's stock valued at $548,000 after acquiring an additional 22,005 shares during the last quarter. Prudential Financial Inc. acquired a new position in TPI Composites during the 4th quarter worth $43,000. Headlands Technologies LLC grew its holdings in TPI Composites by 2,435.3% during the 4th quarter. Headlands Technologies LLC now owns 35,951 shares of the industrial products company's stock worth $68,000 after acquiring an additional 34,533 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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 worth $1,931,000 after purchasing an additional 16,034 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.
About TPI Composites
(
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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.
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