Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $5.09

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.09.

Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Piper Sandler raised their price objective on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th.

TPI Composites Stock Up 1.8 %

Shares of NASDAQ TPIC opened at $4.55 on Friday. The firm’s 50-day moving average price is $4.09 and its 200-day moving average price is $3.85. TPI Composites has a 52-week low of $1.63 and a 52-week high of $5.75. The company has a market cap of $214.95 million, a PE ratio of -0.99 and a beta of 1.91.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The company had revenue of $309.82 million during the quarter, compared to the consensus estimate of $313.76 million. As a group, equities research analysts anticipate that TPI Composites will post -2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On TPI Composites

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. Perigon Wealth Management LLC purchased a new position in shares of TPI Composites in the 1st quarter worth approximately $36,000. SG Americas Securities LLC purchased a new position in shares of TPI Composites during the second quarter valued at $44,000. State Board of Administration of Florida Retirement System grew its holdings in TPI Composites by 55.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 5,930 shares in the last quarter. Fiduciary Trust Co purchased a new position in TPI Composites during the 4th quarter valued at about $54,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TPI Composites in the 1st quarter valued at about $77,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.