Bank of America Increases TPI Composites (NASDAQ:TPIC) Price Target to $15.00

TPI Composites (NASDAQ:TPIC – Get Rating) had its price target upped by stock analysts at Bank of America from $14.00 to $15.00 in a research report issued on Wednesday, The Fly reports. Bank of America‘s target price would indicate a potential upside of 30.55% from the company’s current price.

Several other analysts have also recently issued reports on TPIC. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of TPI Composites in a research report on Sunday, February 26th. UBS Group dropped their target price on TPI Composites from $12.00 to $9.00 in a research report on Monday, May 8th. Raymond James dropped their target price on TPI Composites from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Finally, JPMorgan Chase & Co. lowered their price objective on TPI Composites from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, TPI Composites presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.92.

TPI Composites Trading Up 0.3 %

TPIC opened at $11.49 on Wednesday. The stock’s fifty day moving average is $11.55 and its two-hundred day moving average is $11.83. The company has a market capitalization of $488.10 million, a P/E ratio of -3.67 and a beta of 1.87. TPI Composites has a 52 week low of $8.46 and a 52 week high of $25.05. The company has a quick ratio of 1.67, a current ratio of 1.71 and a debt-to-equity ratio of 0.02.

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

Hedge Funds Weigh In On TPI Composites

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carmignac Gestion raised its stake in shares of TPI Composites by 173.8% during the 4th quarter. Carmignac Gestion now owns 851,766 shares of the industrial products company’s stock valued at $8,637,000 after buying an additional 540,669 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in shares of TPI Composites by 123.3% during the 1st quarter. Essex Investment Management Co. LLC now owns 765,292 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 422,584 shares during the last quarter. Caas Capital Management LP purchased a new position in shares of TPI Composites during the 3rd quarter valued at about $4,576,000. Nishkama Capital LLC purchased a new position in shares of TPI Composites during the 1st quarter valued at about $5,185,000. Finally, Candriam S.C.A. purchased a new position in shares of TPI Composites during the 1st quarter valued at about $4,754,000. Hedge funds and other institutional investors own 82.07% of the company’s stock.

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.