TPI Composites’ (TPIC) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

TPI Composites (NASDAQ:TPIC)‘s stock had its “neutral” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a report released on Thursday, MarketBeat reports.

TPIC has been the subject of a number of other research reports. Jefferies Financial Group began coverage on TPI Composites in a report on Thursday, October 17th. They issued a “hold” rating and a $5.00 price target for the company. Morgan Stanley restated an “underweight” rating and issued a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, Bank of America decreased their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TPI Composites has an average rating of “Hold” and a consensus target price of $4.58.

TPI Composites Stock Down 8.9 %

NASDAQ TPIC opened at $1.23 on Thursday. The stock has a market cap of $58.50 million, a PE ratio of -0.33 and a beta of 1.82. TPI Composites has a fifty-two week low of $1.21 and a fifty-two week high of $5.75. The business has a 50 day moving average price of $2.93 and a two-hundred day moving average price of $3.82.

Hedge Funds Weigh In On TPI Composites

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of TPI Composites by 281.4% during the 3rd quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after buying an additional 44,666 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of TPI Composites during the 3rd quarter valued at approximately $57,000. Erste Asset Management GmbH purchased a new position in shares of TPI Composites during the 3rd quarter valued at approximately $7,854,000. Brightline Capital Management LLC lifted its stake in TPI Composites by 14.3% during the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock worth $7,544,000 after purchasing an additional 208,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in TPI Composites during the third quarter worth $88,000. 75.24% of the stock is currently 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.