Analysts Set TPI Composites, Inc. (NASDAQ:TPIC) Price Target at $4.58

TPI Composites, Inc. (NASDAQ:TPIC) has earned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.58.

A number of research analysts recently weighed in on the company. Jefferies Financial Group started coverage on TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 price objective on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Bank of America cut their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Morgan Stanley reissued an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a report on Friday, November 15th.

TPI Composites Trading Up 7.3 %

Shares of TPIC opened at $1.92 on Friday. The firm has a market capitalization of $91.32 million, a PE ratio of -0.51 and a beta of 1.82. The stock’s 50 day moving average is $2.13 and its two-hundred day moving average is $3.46. TPI Composites has a twelve month low of $1.10 and a twelve month high of $5.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new stake in TPI Composites in the 3rd quarter valued at about $7,854,000. DRW Securities LLC purchased a new position in shares of TPI Composites during the 2nd quarter worth approximately $718,000. Sanctuary Advisors LLC purchased a new position in shares of TPI Composites during the 2nd quarter worth approximately $1,421,000. BNP Paribas Financial Markets raised its position in shares of TPI Composites by 391.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 51,502 shares during the last quarter. Finally, Monaco Asset Management SAM lifted its stake in TPI Composites by 20.0% in the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock valued at $239,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.