TPI Composites, Inc. (NASDAQ:TPIC) Receives Average Rating of “Hold” from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has received an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $6.63.

A number of research analysts recently weighed in on the company. Roth Mkm boosted their target price on TPI Composites from $3.30 to $3.75 and gave the stock a “neutral” rating in a report on Monday, May 6th. Piper Sandler restated a “neutral” rating and issued a $3.00 price objective (down from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd.

Institutional Trading of TPI Composites

A number of hedge funds have recently bought and sold shares of the stock. Oaktree Capital Management LP lifted its stake in shares of TPI Composites by 556.5% in the fourth quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after buying an additional 3,899,903 shares during the period. Covalis Capital LLP bought a new stake in shares of TPI Composites in the 3rd quarter worth approximately $2,163,000. Clean Energy Transition LLP acquired a new stake in shares of TPI Composites during the 4th quarter worth approximately $1,620,000. Rock Point Advisors LLC increased its position in shares of TPI Composites by 98.9% during the third quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock valued at $1,677,000 after purchasing an additional 314,715 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of TPI Composites in the first quarter valued at $863,000. 75.24% of the stock is owned by institutional investors.

TPI Composites Price Performance

TPIC stock opened at $4.74 on Friday. The firm has a 50 day moving average of $3.20 and a two-hundred day moving average of $3.01. TPI Composites has a 12 month low of $1.63 and a 12 month high of $12.24.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, May 2nd. The industrial products company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.59). The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $299.93 million. Research analysts anticipate that TPI Composites will post -2.11 EPS for the current year.

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.