TPI Composites, Inc. (NASDAQ:TPIC) Receives $9.22 Average Price Target from Brokerages

TPI Composites, Inc. (NASDAQ:TPIC) has been assigned a consensus rating of “Hold” from the nine research firms that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.22.

Separately, Piper Sandler restated a “neutral” rating and issued a $3.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, February 23rd.

TPI Composites Stock Performance

Shares of TPI Composites stock opened at $2.98 on Tuesday. The business has a 50 day moving average of $2.79 and a 200 day moving average of $2.80. TPI Composites has a 52 week low of $1.63 and a 52 week high of $12.51.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.91) by $1.18. The company had revenue of $296.99 million during the quarter, compared to the consensus estimate of $340.91 million. During the same quarter last year, the company posted ($0.73) earnings per share. As a group, equities research analysts forecast that TPI Composites will post -1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Green Alpha Advisors LLC increased its holdings in TPI Composites by 2.9% in the 1st quarter. Green Alpha Advisors LLC now owns 227,627 shares of the industrial products company’s stock worth $662,000 after buying an additional 6,351 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of TPI Composites during the 1st quarter valued at about $147,000. Lighthouse Investment Partners LLC bought a new stake in shares of TPI Composites in the fourth quarter worth approximately $90,000. Clean Energy Transition LLP purchased a new position in shares of TPI Composites during the fourth quarter valued at approximately $1,620,000. Finally, Oaktree Capital Management LP lifted its position in TPI Composites by 556.5% during the fourth quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after purchasing an additional 3,899,903 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.