UBS Group Issues Pessimistic Forecast for TPI Composites (NASDAQ:TPIC) Stock Price

TPI Composites (NASDAQ:TPIC) had its price objective decreased by analysts at UBS Group from $2.40 to $1.60 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective points to a potential upside of 29.03% from the company’s previous close.

Several other equities analysts also recently commented on the company. Bank of America dropped their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Roth Mkm dropped their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price objective (down from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TPI Composites currently has an average rating of “Hold” and an average price target of $3.83.

TPI Composites Stock Down 6.1 %

TPIC traded down $0.08 during trading on Tuesday, hitting $1.24. The company had a trading volume of 298,373 shares, compared to its average volume of 972,366. The firm’s 50-day moving average price is $1.58 and its 200 day moving average price is $2.76. TPI Composites has a one year low of $1.10 and a one year high of $5.75. The company has a market capitalization of $59.04 million, a PE ratio of -0.24 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to the consensus estimate of $364.83 million. Sell-side analysts forecast that TPI Composites will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On TPI Composites

Several institutional investors and hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH purchased a new position in TPI Composites in the 3rd quarter valued at approximately $7,854,000. Wells Fargo & Company MN grew its position in TPI Composites by 104.1% during the fourth quarter. Wells Fargo & Company MN now owns 28,035 shares of the industrial products company’s stock worth $53,000 after buying an additional 718,573 shares during the period. Brightline Capital Management LLC grew its holdings in TPI Composites by 14.3% during the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after buying an additional 208,000 shares during the last quarter. Jane Street Group LLC lifted its position in TPI Composites by 228.3% during the fourth quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock worth $421,000 after buying an additional 154,994 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of TPI Composites by 433.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 118,365 shares during the period. 75.24% of the stock is currently 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.