TPI Composites (NASDAQ:TPIC) Price Target Cut to $12.00

TPI Composites (NASDAQ:TPIC – Get Rating) had its target price trimmed by Piper Sandler from $14.00 to $12.00 in a research report sent to investors on Monday morning, The Fly reports.

A number of other equities analysts also recently issued reports on TPIC. Raymond James cut their price target on TPI Composites from $24.00 to $22.00 and set an outperform rating for the company in a research note on Wednesday, April 5th. Cowen lifted their price target on TPI Composites from $13.00 to $17.00 and gave the company an outperform rating in a research note on Friday, February 10th. Seaport Res Ptn restated a neutral rating on shares of TPI Composites in a research note on Sunday, February 26th. UBS Group lowered their target price on shares of TPI Composites from $12.00 to $9.00 in a report on Monday, May 8th. Finally, Guggenheim upgraded shares of TPI Composites from a neutral rating to a buy rating and set a $22.00 price target for the company in a research report on Thursday, March 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $16.92.

TPI Composites Stock Up 0.3 %

Shares of NASDAQ:TPIC opened at $11.49 on Monday. The company has a fifty day moving average of $11.55 and a 200-day moving average of $11.83. The company has a market capitalization of $488.10 million, a PE ratio of -3.67 and a beta of 1.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.67 and a current ratio of 1.71. TPI Composites has a 52-week low of $8.46 and a 52-week high of $25.05.

TPI Composites (NASDAQ:TPIC – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.31). The company had revenue of $404.07 million during the quarter, compared to analyst estimates of $383.20 million. TPI Composites had a negative net margin of 4.17% and a negative return on equity of 58.56%. On average, equities analysts predict that TPI Composites will post -1.48 EPS for the current fiscal year.

Institutional Trading of TPI Composites

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of TPI Composites by 6.4% during the first quarter. BlackRock Inc. now owns 4,513,407 shares of the industrial products company’s stock valued at $58,900,000 after acquiring an additional 269,928 shares during the last quarter. State Street Corp raised its stake in TPI Composites by 3.2% in the first quarter. State Street Corp now owns 2,132,452 shares of the industrial products company’s stock worth $27,828,000 after buying an additional 65,965 shares in the last quarter. Vanguard Group Inc. raised its stake in TPI Composites by 4.9% in the third quarter. Vanguard Group Inc. now owns 1,923,249 shares of the industrial products company’s stock worth $21,694,000 after buying an additional 90,344 shares in the last quarter. Credit Suisse AG raised its stake in TPI Composites by 18.2% in the first quarter. Credit Suisse AG now owns 1,724,920 shares of the industrial products company’s stock worth $22,510,000 after buying an additional 265,784 shares in the last quarter. Finally, Carmignac Gestion raised its stake in TPI Composites by 173.8% in the fourth quarter. Carmignac Gestion now owns 851,766 shares of the industrial products company’s stock worth $8,637,000 after buying an additional 540,669 shares in the last quarter. 82.07% of the stock is currently owned by hedge funds and other institutional investors.

About TPI Composites

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TPI Composites, Inc is a holding company, which engages in the manufacturing of composite wind blades for the wind energy market. It operates through the following segments: United States (US), Asia, Mexico, Europe, the Middle East & Africa (EMEA), and India. The US segment includes the production of wind blades in its Newton, Iowa plant, the manufacturing of precision molding and assembly systems used for the production of wind blades in its Warren, Rhode Island facility, and composite solutions for the transportation industry.