Jefferies Financial Group Downgrades TPI Composites (NASDAQ:TPIC) to Underperform

TPI Composites (NASDAQ:TPIC) was downgraded by equities researchers at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $0.50 target price on the industrial products company’s stock, down from their previous target price of $2.30. Jefferies Financial Group’s price target would suggest a potential downside of 58.33% from the stock’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. UBS Group dropped their price objective on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. StockNews.com upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Roth Mkm dropped their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TPI Composites currently has an average rating of “Hold” and an average price target of $3.19.

TPI Composites Trading Up 12.1 %

NASDAQ:TPIC opened at $1.20 on Tuesday. The stock has a 50-day moving average price of $1.37 and a 200 day moving average price of $2.46. The stock has a market capitalization of $57.13 million, a P/E ratio of -0.24 and a beta of 2.07. TPI Composites has a 12-month low of $0.96 and a 12-month high of $5.75.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The business had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. On average, research analysts predict that TPI Composites will post -0.9 earnings per share for the current fiscal year.

Insider Activity at TPI Composites

In other TPI Composites news, major shareholder Construction Taahhut A.S. Dere bought 49,000 shares of TPI Composites stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $1.59 per share, for a total transaction of $77,910.00. Following the completion of the purchase, the insider now directly owns 4,229,232 shares in the company, valued at approximately $6,724,478.88. This trade represents a 1.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have bought 205,000 shares of company stock worth $307,050. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On TPI Composites

Institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in TPI Composites during the 3rd quarter valued at $65,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TPI Composites during the 3rd quarter worth $155,000. Quantbot Technologies LP boosted its position in TPI Composites by 24.9% during the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 5,653 shares in the last quarter. BNP Paribas Financial Markets grew its stake in TPI Composites by 391.9% in the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 51,502 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in TPI Composites in the third quarter worth about $88,000. 75.24% of the stock is owned by 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.