Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $3.19

TPI Composites, Inc. (NASDAQ:TPIC) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.19.

A number of analysts have commented on TPIC shares. Roth Mkm reduced their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday, February 21st. UBS Group decreased their price target on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Finally, Jefferies Financial Group cut shares of 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.

TPI Composites Trading Up 3.2 %

Shares of TPIC opened at $0.98 on Friday. The stock has a 50-day moving average price of $0.89 and a 200-day moving average price of $1.57. The company has a market cap of $46.85 million, a PE ratio of -0.19 and a beta of 2.05. TPI Composites has a 12-month low of $0.64 and a 12-month high of $5.75.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million for the quarter, compared to analysts’ expectations of $364.83 million. As a group, analysts predict that TPI Composites will post -0.9 earnings per share for the current year.

Insider Transactions at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere purchased 80,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were purchased at an average price of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the purchase, the insider now owns 4,397,232 shares in the company, valued at approximately $6,683,792.64. This represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders acquired 156,000 shares of company stock worth $229,140. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TPI Composites

Several institutional investors have recently bought and sold shares of TPIC. Cerity Partners LLC purchased a new position in TPI Composites in the fourth quarter worth $25,000. Two Sigma Securities LLC acquired a new position in shares of TPI Composites in the 4th quarter valued at about $31,000. Dark Forest Capital Management LP purchased a new stake in TPI Composites in the 4th quarter worth approximately $33,000. Alpine Global Management LLC purchased a new position in TPI Composites in the fourth quarter valued at $38,000. Finally, Peoples Bank KS boosted its position in TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 10,000 shares in the last quarter. 75.24% of the stock is 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.