JPMorgan Chase & Co. Downgrades TPI Composites (NASDAQ:TPIC) to Neutral

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JPMorgan Chase & Co. downgraded shares of TPI Composites (NASDAQ:TPIC) from an overweight rating to a neutral rating in a report published on Tuesday, Benzinga reports. They currently have $24.00 price target on the industrial products company’s stock. The analysts noted that the move was a valuation call.

A number of other equities analysts have also commented on TPIC. Zacks Investment Research upgraded shares of TPI Composites from a strong sell rating to a hold rating in a report on Friday, January 10th. ValuEngine upgraded shares of TPI Composites from a buy rating to a strong-buy rating in a report on Friday, February 7th. JMP Securities lifted their price target on shares of TPI Composites from $20.00 to $30.00 and gave the stock an outperform rating in a report on Monday, February 10th. BidaskClub upgraded shares of TPI Composites from a buy rating to a strong-buy rating in a report on Thursday, January 16th. Finally, Roth Capital boosted their target price on shares of TPI Composites from to and gave the company a neutral rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $26.89.

Shares of NASDAQ:TPIC opened at $24.59 on Tuesday. The firm has a market cap of $865.10 million, a PE ratio of -35.64 and a beta of 1.58. The firm’s fifty day moving average is $20.40 and its 200-day moving average is $19.23. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.26. TPI Composites has a 52 week low of $15.34 and a 52 week high of $32.74.

A number of hedge funds have recently added to or reduced their stakes in TPIC. NumerixS Investment Technologies Inc lifted its holdings in TPI Composites by 200.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,500 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,000 shares during the period. Great West Life Assurance Co. Can acquired a new position in TPI Composites in the fourth quarter valued at $34,000. Citizens Financial Group Inc RI acquired a new position in TPI Composites in the fourth quarter valued at $35,000. TCI Wealth Advisors Inc. lifted its holdings in TPI Composites by 100.0% in the third quarter. TCI Wealth Advisors Inc. now owns 2,000 shares of the industrial products company’s stock valued at $38,000 after buying an additional 1,000 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in TPI Composites in the fourth quarter valued at $58,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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