UBS Group Issues Pessimistic Forecast for TPI Composites (NASDAQ:TPIC) Stock Price

TPI Composites (NASDAQ:TPIC) had its price objective decreased by equities research analysts at UBS Group from $2.40 to $1.60 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price target suggests a potential upside of 29.03% from the stock’s current price.

Several other brokerages have also recently commented on TPIC. StockNews.com upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday. Bank of America decreased their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley reissued an “underweight” rating and set a $2.00 target price (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Roth Mkm dropped their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.83.

TPI Composites Price Performance

NASDAQ TPIC traded down $0.08 on Tuesday, hitting $1.24. 298,373 shares of the stock were exchanged, compared to its average volume of 972,366. The company’s 50-day moving average price is $1.58 and its two-hundred day moving average price is $2.76. The company has a market capitalization of $59.04 million, a price-to-earnings ratio of -0.24 and a beta of 1.82. TPI Composites has a 52-week low of $1.10 and a 52-week high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. Equities analysts predict that TPI Composites will post -0.9 EPS for the current fiscal year.

Institutional Trading of TPI Composites

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alpine Global Management LLC acquired a new stake in shares of TPI Composites during the fourth quarter worth $38,000. Squarepoint Ops LLC lifted its stake in TPI Composites by 469.2% during the 4th quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 49,263 shares in the last quarter. Graham Capital Management L.P. bought a new stake in TPI Composites in the 4th quarter worth about $105,000. Deutsche Bank AG lifted its holdings in TPI Composites by 39.0% during the fourth quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 50,422 shares during the period. Finally, Bank of America Corp DE increased its holdings in TPI Composites by 1.0% during the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock worth $2,085,000 after buying an additional 10,611 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.