TPI Composites, Inc. (NASDAQ:TPIC) Given Consensus Rating of “Hold” by Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has earned an average recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.22.

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 report on Friday, February 23rd.

TPI Composites Stock Up 16.3 %

TPIC stock opened at $2.78 on Tuesday. TPI Composites has a twelve month low of $1.63 and a twelve month high of $12.53. The firm has a market cap of $131.97 million, a PE ratio of -0.67 and a beta of 2.03. The business has a 50 day moving average of $2.79 and a 200 day moving average of $2.79.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $1.18. The business had revenue of $296.99 million during the quarter, compared to the consensus estimate of $340.91 million. During the same period in the previous year, the business posted ($0.73) EPS. On average, research analysts expect that TPI Composites will post -1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPI Composites

A number of institutional investors and hedge funds have recently modified their holdings of TPIC. Oaktree Capital Management LP boosted its stake in shares of TPI Composites by 556.5% in 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 buying an additional 3,899,903 shares during the last quarter. Covalis Capital LLP purchased a new position in shares of TPI Composites in the 3rd quarter worth $2,163,000. Handelsbanken Fonder AB lifted its position in TPI Composites by 43.1% during the third quarter. Handelsbanken Fonder AB now owns 1,299,695 shares of the industrial products company’s stock valued at $3,444,000 after purchasing an additional 391,463 shares in the last quarter. Clean Energy Transition LLP purchased a new position in TPI Composites during the fourth quarter valued at $1,620,000. Finally, Rock Point Advisors LLC lifted its position in 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 in the last quarter. 75.24% of the stock is currently 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.