TPI Composites (NASDAQ:TPIC) PT Raised to $3.75 at Roth Mkm

TPI Composites (NASDAQ:TPIC) had its target price raised by equities research analysts at Roth Mkm from $3.30 to $3.75 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Roth Mkm’s price objective indicates a potential downside of 6.02% from the stock’s previous close.

Separately, Piper Sandler reiterated a “neutral” rating and issued a $3.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, TPI Composites currently has a consensus rating of “Hold” and a consensus price target of $8.53.

TPI Composites Price Performance

Shares of NASDAQ:TPIC traded up $0.25 during trading hours on Monday, hitting $3.99. 535,143 shares of the company’s stock traded hands, compared to its average volume of 1,173,857. TPI Composites has a 1 year low of $1.63 and a 1 year high of $12.24. The business has a fifty day moving average price of $2.85 and a 200-day moving average price of $2.82. The firm has a market capitalization of $189.41 million, a P/E ratio of -0.87 and a beta of 1.96.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.91) by $1.18. The company had revenue of $296.99 million for the quarter, compared to the consensus estimate of $340.91 million. During the same period in the prior year, the firm posted ($0.73) EPS. As a group, equities analysts predict that TPI Composites will post -1.6 earnings per share for the current year.

Institutional Trading of TPI Composites

A number of institutional investors have recently added to or reduced their stakes in TPIC. Citizens Financial Group Inc. RI acquired a new stake in shares of TPI Composites in the third quarter worth $28,000. Vaughan David Investments LLC IL bought a new position in TPI Composites during the third quarter worth $31,000. Perigon Wealth Management LLC bought a new position in TPI Composites during the first quarter worth $36,000. Peoples Bank KS increased its position in TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 10,000 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 5,000 shares during the period. Finally, Cedar Point Capital Partners LLC bought a new position in TPI Composites during the fourth quarter worth $41,000. 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.