TPI Composites, Inc. (NASDAQ:TPIC) Receives $55.55 Consensus Price Target from Analysts

TPI Composites, Inc. (NASDAQ:TPIC) has received a consensus rating of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $55.55.

TPIC has been the topic of several research reports. Raymond James decreased their price target on shares of TPI Composites from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, July 23rd. Cowen decreased their price target on shares of TPI Composites from $65.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, July 23rd. Bank of America began coverage on shares of TPI Composites in a report on Monday, August 30th. They set an “underperform” rating and a $22.00 price target on the stock. Piper Sandler began coverage on shares of TPI Composites in a report on Thursday, June 10th. They set a “neutral” rating and a $50.00 target price on the stock. Finally, Seaport Global Securities began coverage on shares of TPI Composites in a report on Thursday, July 15th. They set a “buy” rating and a $67.00 target price on the stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC lifted its position in shares of TPI Composites by 30.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 34,459 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 8,085 shares during the period. Morgan Stanley lifted its position in shares of TPI Composites by 39.3% during the 2nd quarter. Morgan Stanley now owns 1,639,247 shares of the industrial products company’s stock valued at $79,372,000 after acquiring an additional 462,156 shares during the period. 1832 Asset Management L.P. lifted its position in shares of TPI Composites by 152.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 79,613 shares of the industrial products company’s stock valued at $3,864,000 after acquiring an additional 48,113 shares during the period. M Holdings Securities Inc. acquired a new position in shares of TPI Composites during the 2nd quarter valued at $16,073,000. Finally, Wells Fargo & Company MN lifted its position in shares of TPI Composites by 14.2% during the 2nd quarter. Wells Fargo & Company MN now owns 66,998 shares of the industrial products company’s stock valued at $3,243,000 after acquiring an additional 8,329 shares during the period. Hedge funds and other institutional investors own 84.94% of the company’s stock.

Shares of NASDAQ:TPIC traded up $0.67 during midday trading on Thursday, hitting $35.78. The stock had a trading volume of 497,657 shares, compared to its average volume of 762,113. The company’s 50-day moving average price is $38.48 and its 200-day moving average price is $45.38. The company has a market capitalization of $1.33 billion, a P/E ratio of 255.59 and a beta of 1.58. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 1.12. TPI Composites has a fifty-two week low of $24.02 and a fifty-two week high of $81.36.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Thursday, August 5th. The industrial products company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.32). The company had revenue of $458.84 million for the quarter, compared to the consensus estimate of $458.79 million. TPI Composites had a net margin of 0.33% and a return on equity of 2.42%. Research analysts expect that TPI Composites will post -1.67 EPS for the current fiscal year.

TPI Composites Company Profile

TPI Composites, Inc is a holding company, which engages in the manufacture of composite wind blades for the wind energy market. It operates through the following segments: United States (US); Asia; Mexico; and Europe, the Middle East, and Africa (EMEA). The US segment includes the production of wind blades in Newton, Iowa plant; and manufacturing of precision molding and assembly systems used for the manufacture of wind blades in Warren, Rhode Island facility, and composite solutions for the transportation industry.

Further Reading: Initial Coin Offering (ICO)

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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