Roth Mkm Lowers TPI Composites (NASDAQ:TPIC) Price Target to $1.50

TPI Composites (NASDAQ:TPIC) had its price objective decreased by research analysts at Roth Mkm from $2.75 to $1.50 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Roth Mkm’s price target would suggest a potential downside of 6.83% from the stock’s current price.

Several other equities research analysts have also issued reports on TPIC. Bank of America dropped their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.20.

TPI Composites Stock Up 10.3 %

Shares of NASDAQ TPIC traded up $0.15 during trading on Friday, reaching $1.61. 2,156,880 shares of the stock were exchanged, compared to its average volume of 958,880. The company has a market capitalization of $76.57 million, a price-to-earnings ratio of -0.43 and a beta of 1.82. The business’s 50-day moving average price is $1.57 and its 200 day moving average price is $2.80. TPI Composites has a twelve month low of $1.10 and a twelve month high of $5.75.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) 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 the consensus estimate of $364.83 million. As a group, sell-side analysts expect that TPI Composites will post -3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds have recently modified their holdings of TPIC. Quantinno Capital Management LP acquired a new stake in shares of TPI Composites during the 3rd quarter valued at about $57,000. Cerity Partners LLC acquired a new stake in TPI Composites in the fourth quarter valued at approximately $25,000. Intech Investment Management LLC bought a new stake in TPI Composites in the third quarter worth approximately $65,000. Two Sigma Securities LLC bought a new position in shares of TPI Composites during the 4th quarter valued at $31,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of TPI Composites in the 4th quarter valued at $33,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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.