TPI Composites, Inc. (NASDAQ:TPIC) Receives $2.01 Consensus Target Price from Analysts

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have earned an average rating of “Reduce” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1.7333.

Several research analysts have recently issued reports on TPIC shares. UBS Group decreased their price objective on shares of TPI Composites from $1.60 to $1.40 and set a “neutral” rating for the company in a report on Thursday, May 29th. TD Cowen reiterated a “hold” rating and issued a $1.00 price objective (down from $2.00) on shares of TPI Composites in a report on Tuesday, July 8th.

TPI Composites Trading Down 20.7%

Shares of NASDAQ:TPIC opened at $0.24 on Monday. The firm’s 50 day moving average is $0.87 and its two-hundred day moving average is $1.00. TPI Composites has a 52 week low of $0.14 and a 52 week high of $5.15. The firm has a market capitalization of $11.45 million, a P/E ratio of -0.06 and a beta of 1.98.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Monday, August 11th. The industrial products company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.87). The business had revenue of $276.24 million for the quarter, compared to the consensus estimate of $365.39 million. Analysts predict that TPI Composites will post -0.9 EPS for the current year.

Institutional Trading of TPI Composites

A number of large investors have recently added to or reduced their stakes in TPIC. Barclays PLC grew its position in TPI Composites by 14.9% in the fourth quarter. Barclays PLC now owns 69,542 shares of the industrial products company’s stock worth $131,000 after buying an additional 9,004 shares during the last quarter. Bank of America Corp DE grew its position in TPI Composites by 1.0% in the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock worth $2,085,000 after buying an additional 10,611 shares during the last quarter. Cerity Partners LLC acquired a new position in TPI Composites in the fourth quarter worth approximately $25,000. Geode Capital Management LLC grew its position in TPI Composites by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock worth $1,931,000 after buying an additional 16,034 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in TPI Composites in the fourth quarter worth approximately $31,000. 75.24% of the stock is currently owned by 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.