TPI Composites’ (TPIC) “Underweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of TPI Composites (NASDAQ:TPIC) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. Morgan Stanley currently has a $2.00 target price on the industrial products company’s stock, down from their previous target price of $4.00.

Other analysts have also recently issued research reports about the company. Bank of America dropped their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Piper Sandler raised their price target on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group initiated coverage on shares of TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.58.

TPI Composites Stock Down 8.8 %

NASDAQ TPIC traded down $0.21 on Friday, reaching $2.17. The stock had a trading volume of 1,234,215 shares, compared to its average volume of 916,258. The firm has a market capitalization of $103.21 million, a price-to-earnings ratio of -0.58 and a beta of 1.93. The stock has a fifty day moving average price of $3.85 and a two-hundred day moving average price of $4.10. TPI Composites has a 12-month low of $1.90 and a 12-month high of $5.75.

Institutional Trading of TPI Composites

Several institutional investors have recently bought and sold shares of TPIC. SG Americas Securities LLC bought a new position in TPI Composites during the second quarter valued at approximately $44,000. Quantinno Capital Management LP acquired a new position in shares of TPI Composites during the third quarter valued at about $57,000. Intech Investment Management LLC purchased a new stake in TPI Composites in the third quarter valued at approximately $65,000. State Board of Administration of Florida Retirement System raised its stake in shares of TPI Composites by 55.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after buying an additional 5,930 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TPI Composites during the third quarter valued at $88,000. 75.24% of the stock is 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.