TPI Composites, Inc. (NASDAQ:TPIC) Receives Consensus Rating of “Hold” from Brokerages

TPI Composites, Inc. (NASDAQ:TPICGet Free Report) has been assigned a consensus rating of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.55.

TPIC has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on TPI Composites from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Morgan Stanley dropped their price objective on TPI Composites from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, December 8th.

Read Our Latest Research Report on TPI Composites

Institutional Trading of TPI Composites

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its stake in TPI Composites by 43.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,299,695 shares of the industrial products company’s stock worth $3,444,000 after buying an additional 391,463 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in TPI Composites by 804.7% in the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 373,325 shares of the industrial products company’s stock worth $3,871,000 after buying an additional 332,058 shares in the last quarter. Rock Point Advisors LLC grew its stake in TPI Composites by 98.9% in the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after buying an additional 314,715 shares in the last quarter. Green Alpha Advisors LLC grew its stake in TPI Composites by 11.0% in the 3rd quarter. Green Alpha Advisors LLC now owns 114,287 shares of the industrial products company’s stock worth $303,000 after buying an additional 11,339 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in TPI Composites in the 3rd quarter worth approximately $94,000. 93.45% of the stock is owned by institutional investors.

TPI Composites Price Performance

TPI Composites stock opened at $3.23 on Thursday. The stock’s fifty day moving average price is $3.13 and its two-hundred day moving average price is $3.35. TPI Composites has a one year low of $1.63 and a one year high of $14.58. The firm has a market cap of $137.50 million, a PE ratio of -0.55 and a beta of 2.03.

TPI Composites Company Profile

(Get Free Report

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company 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.

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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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