TPI Composites (NASDAQ:TPIC) Coverage Initiated by Analysts at Jefferies Financial Group

Equities researchers at Jefferies Financial Group initiated coverage on shares of TPI Composites (NASDAQ:TPIC) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set a “hold” rating and a $5.00 price target on the industrial products company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 6.38% from the company’s previous close.

TPIC has been the subject of a number of other research reports. Bank of America increased their price objective on TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price target on TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Evercore ISI raised TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Piper Sandler increased their price target on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.08.

TPI Composites Trading Down 1.7 %

TPIC opened at $4.70 on Thursday. The stock has a fifty day simple moving average of $4.17 and a two-hundred day simple moving average of $4.03. The company has a market cap of $222.03 million, a price-to-earnings ratio of -1.02 and a beta of 1.91. TPI Composites has a 12-month low of $1.63 and a 12-month high of $5.75.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.54). The business had revenue of $309.82 million during the quarter, compared to analyst estimates of $313.76 million. On average, analysts predict that TPI Composites will post -2.85 EPS for the current year.

Institutional Trading of TPI Composites

A number of large investors have recently made changes to their positions in TPIC. Perigon Wealth Management LLC bought a new stake in shares of TPI Composites in the 1st quarter worth about $36,000. SG Americas Securities LLC bought a new position in TPI Composites during the 2nd quarter valued at about $44,000. State Board of Administration of Florida Retirement System grew its holdings in TPI Composites by 55.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 5,930 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in TPI Composites during the 1st quarter valued at about $77,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in TPI Composites by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 3,737 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

About TPI Composites

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.