Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $8.47

Shares of TPI Composites, Inc. (NASDAQ:TPIC) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.82.

Several analysts recently issued reports on TPIC shares. Piper Sandler reiterated a “neutral” rating and issued a $3.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday, February 23rd. Roth Mkm raised their target price on TPI Composites from $3.30 to $3.75 and gave the company a “neutral” rating in a report on Monday, May 6th.

Institutional Investors Weigh In On TPI Composites

A number of large investors have recently made changes to their positions in TPIC. Peoples Bank KS boosted its holdings in TPI Composites by 100.0% in the fourth quarter. Peoples Bank KS now owns 10,000 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Cedar Point Capital Partners LLC acquired a new position in shares of TPI Composites during the 4th quarter valued at about $41,000. Citizens Financial Group Inc. RI bought a new position in shares of TPI Composites in the 3rd quarter valued at approximately $28,000. Vaughan David Investments LLC IL acquired a new stake in TPI Composites in the 3rd quarter worth approximately $31,000. Finally, Perigon Wealth Management LLC bought a new stake in TPI Composites during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Stock Performance

TPI Composites stock opened at $4.48 on Friday. TPI Composites has a fifty-two week low of $1.63 and a fifty-two week high of $12.24. The company has a market capitalization of $211.64 million, a price-to-earnings ratio of -0.97 and a beta of 1.96. The stock has a fifty day moving average of $3.13 and a two-hundred day moving average of $2.98.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $1.18. The business had revenue of $296.99 million during the quarter, compared to analysts’ expectations of $340.91 million. During the same period in the prior year, the firm earned ($0.73) EPS. On average, analysts forecast that TPI Composites will post -2.11 EPS for the current fiscal 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.