Roth Mkm Raises TPI Composites (NASDAQ:TPIC) Price Target to $3.75

TPI Composites (NASDAQ:TPIC) had its target price boosted by Roth Mkm from $3.30 to $3.75 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Separately, Piper Sandler reissued a neutral rating and issued a $3.00 target price (down previously from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, TPI Composites presently has a consensus rating of Hold and a consensus price target of $8.47.

TPI Composites Stock Performance

NASDAQ:TPIC opened at $3.87 on Monday. The firm has a 50-day simple moving average of $2.93 and a two-hundred day simple moving average of $2.86. The firm has a market cap of $183.71 million, a P/E ratio of -0.84 and a beta of 1.96. TPI Composites has a fifty-two week low of $1.63 and a fifty-two week high of $12.24.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $1.18. The firm had revenue of $296.99 million during the quarter, compared to analysts’ expectations of $340.91 million. During the same quarter in the previous year, the firm earned ($0.73) earnings per share. On average, equities research analysts predict that TPI Composites will post -1.6 EPS for the current year.

Institutional Trading of TPI Composites

Large investors have recently added to or reduced their stakes in the business. Oaktree Capital Management LP boosted its stake in shares of TPI Composites by 556.5% during the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock worth $19,047,000 after acquiring an additional 3,899,903 shares during the last quarter. Carmignac Gestion lifted its position in TPI Composites by 10.2% during the third quarter. Carmignac Gestion now owns 1,099,383 shares of the industrial products company’s stock valued at $2,913,000 after purchasing an additional 102,005 shares in the last quarter. Covalis Capital LLP bought a new stake in TPI Composites during the third quarter valued at about $2,163,000. Rock Point Advisors LLC increased its position in TPI Composites by 98.9% in the third quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after buying an additional 314,715 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of TPI Composites by 46.5% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 546,791 shares of the industrial products company’s stock worth $1,449,000 after buying an additional 173,466 shares during the period. 75.24% of the stock is currently owned by institutional investors.

About TPI Composites

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.