TPI Composites (NASDAQ:TPIC) Stock Rating Upgraded by Evercore ISI

TPI Composites (NASDAQ:TPIC) was upgraded by investment analysts at Evercore ISI to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports.

Other analysts also recently issued research reports about the stock. Piper Sandler increased their target price on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Roth Mkm increased their price target on TPI Composites from $3.30 to $3.75 and gave the company a “neutral” rating in a research report on Monday, May 6th. Finally, Bank of America raised their target price on TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.09.

TPI Composites Trading Up 2.4 %

NASDAQ TPIC opened at $3.89 on Monday. The business has a fifty day simple moving average of $4.30 and a 200 day simple moving average of $3.60. TPI Composites has a 12 month low of $1.63 and a 12 month high of $6.05. The firm has a market capitalization of $184.97 million, a P/E ratio of -0.85 and a beta of 1.95.

Hedge Funds Weigh In On TPI Composites

Several hedge funds have recently made changes to their positions in the stock. DRW Securities LLC bought a new position in TPI Composites in the 2nd quarter worth about $718,000. King Luther Capital Management Corp bought a new position in shares of TPI Composites in the second quarter valued at approximately $1,365,000. Renaissance Technologies LLC grew its stake in TPI Composites by 251.1% during the second quarter. Renaissance Technologies LLC now owns 58,686 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 41,970 shares in the last quarter. Monaco Asset Management SAM grew its stake in TPI Composites by 20.0% during the second quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in TPI Composites by 78.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 89,777 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 39,356 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

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.