TPI Composites, Inc. (NASDAQ:TPIC) Receives Average Recommendation of “Hold” from Brokerages

Shares of TPI Composites, Inc. (NASDAQ:TPIC – Get Rating) have been given an average recommendation of “Hold” by the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $26.08.

A number of brokerages recently commented on TPIC. StockNews.com began coverage on TPI Composites in a report on Thursday, March 31st. They set a “sell” rating on the stock. Stifel Nicolaus decreased their price objective on shares of TPI Composites from $27.00 to $17.00 in a report on Friday, March 11th. Roth Capital raised shares of TPI Composites from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $16.00 in a research report on Friday, May 6th. Morgan Stanley reissued an “equal weight” rating and set a $21.00 target price (down from $37.00) on shares of TPI Composites in a research report on Monday, February 28th. Finally, Piper Sandler lowered their price target on shares of TPI Composites from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 14th.

Shares of NASDAQ:TPIC opened at $13.35 on Friday. The business’s 50 day moving average is $13.04 and its 200 day moving average is $13.34. TPI Composites has a 12-month low of $9.23 and a 12-month high of $51.79. The stock has a market cap of $497.39 million, a price-to-earnings ratio of -2.66 and a beta of 1.56. The company has a quick ratio of 1.40, a current ratio of 1.45 and a debt-to-equity ratio of 0.04.

TPI Composites (NASDAQ:TPIC – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The industrial products company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.19. TPI Composites had a negative net margin of 10.13% and a negative return on equity of 88.53%. The firm had revenue of $384.90 million for the quarter, compared to the consensus estimate of $392.92 million. During the same period in the previous year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, equities research analysts expect that TPI Composites will post -1.39 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. grew its position in shares of TPI Composites by 74.5% during the 4th quarter. Invesco Ltd. now owns 1,650,828 shares of the industrial products company’s stock valued at $24,696,000 after purchasing an additional 704,646 shares in the last quarter. Renaissance Technologies LLC grew its position in TPI Composites by 357.0% during the fourth quarter. Renaissance Technologies LLC now owns 753,600 shares of the industrial products company’s stock worth $11,274,000 after buying an additional 588,700 shares in the last quarter. M Holdings Securities Inc. bought a new position in TPI Composites in the 1st quarter worth about $4,171,000. Two Sigma Investments LP raised its holdings in shares of TPI Composites by 234.3% in the 3rd quarter. Two Sigma Investments LP now owns 403,654 shares of the industrial products company’s stock valued at $13,623,000 after acquiring an additional 282,904 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of TPI Composites during the 4th quarter valued at about $3,570,000.

About TPI Composites (Get Rating)

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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