Brokerages Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $9.22

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.22.

Separately, Piper Sandler restated a “neutral” rating and set a $3.00 target price (down from $4.00) on shares of TPI Composites in a report on Friday, February 23rd.

Institutional Investors Weigh In On TPI Composites

Institutional investors and hedge funds have recently bought and sold shares of the business. Graham Capital Management L.P. lifted its holdings in TPI Composites by 359.4% in the 3rd quarter. Graham Capital Management L.P. now owns 124,474 shares of the industrial products company’s stock worth $330,000 after buying an additional 97,377 shares during the period. SG Americas Securities LLC lifted its holdings in TPI Composites by 115.9% in the 4th quarter. SG Americas Securities LLC now owns 75,939 shares of the industrial products company’s stock worth $314,000 after buying an additional 40,758 shares during the period. Dark Forest Capital Management LP purchased a new stake in TPI Composites in the 3rd quarter worth approximately $680,000. Rock Point Advisors LLC lifted its holdings in TPI Composites by 98.9% in the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after buying an additional 314,715 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in TPI Composites by 43.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,299,695 shares of the industrial products company’s stock worth $3,444,000 after buying an additional 391,463 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Trading Down 3.2 %

TPIC opened at $2.39 on Tuesday. The stock has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.79. TPI Composites has a 12-month low of $1.63 and a 12-month high of $12.53. The stock has a market capitalization of $113.45 million, a P/E ratio of -0.57 and a beta of 2.03.

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

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.