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

TPI Composites, Inc. (NASDAQ:TPIC) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.19.

A number of equities analysts recently issued reports on TPIC shares. Roth Mkm dropped their price target on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group cut shares of TPI Composites from a “hold” rating to an “underperform” rating and cut their price target for the company from $2.30 to $0.50 in a report on Tuesday, March 18th. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, UBS Group lowered their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th.

TPI Composites Stock Performance

TPIC stock opened at $0.83 on Tuesday. The firm has a market capitalization of $39.53 million, a price-to-earnings ratio of -0.16 and a beta of 2.06. The firm has a 50 day moving average price of $1.06 and a 200-day moving average price of $2.00. TPI Composites has a 52-week low of $0.64 and a 52-week high of $5.75.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The business had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. As a group, sell-side analysts forecast that TPI Composites will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Construction Taahhut A.S. Dere bought 49,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $1.59 per share, with a total value of $77,910.00. Following the completion of the acquisition, the insider now owns 4,229,232 shares in the company, valued at $6,724,478.88. The trade was a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 205,000 shares of company stock worth $307,050. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On TPI Composites

Large investors have recently made changes to their positions in the company. Cerity Partners LLC bought a new position in shares of TPI Composites in the 4th quarter worth approximately $25,000. Two Sigma Securities LLC purchased a new stake in TPI Composites during the fourth quarter valued at approximately $31,000. Dark Forest Capital Management LP bought a new position in TPI Composites in the fourth quarter worth approximately $33,000. Cedar Point Capital Partners LLC boosted its stake in shares of TPI Composites by 100.0% during the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Peoples Bank KS grew its position in shares of TPI Composites by 100.0% during the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 10,000 shares during the period. 75.24% of the stock is currently owned by institutional investors.

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.