Morgan Stanley Reiterates Underweight Rating for TPI Composites (NASDAQ:TPIC)

Morgan Stanley restated their underweight rating on shares of TPI Composites (NASDAQ:TPIC) in a research report report published on Friday morning, Marketbeat reports. They currently have a $2.00 price target on the industrial products company’s stock, down from their previous price target of $4.00.

Other equities research analysts have also issued reports about the company. Piper Sandler upped their price target on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Jefferies Financial Group initiated coverage on shares of TPI Composites in a research report on Thursday, October 17th. They issued a “hold” rating and a $5.00 price target on the stock. Bank of America lowered their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TPI Composites has a consensus rating of “Hold” and a consensus price target of $4.58.

TPI Composites Stock Down 8.8 %

Shares of TPI Composites stock opened at $2.17 on Friday. The business has a 50-day moving average price of $3.85 and a 200 day moving average price of $4.10. TPI Composites has a fifty-two week low of $1.90 and a fifty-two week high of $5.75. The firm has a market cap of $103.21 million, a P/E ratio of -0.58 and a beta of 1.93.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in TPI Composites in the 2nd quarter valued at about $44,000. State Board of Administration of Florida Retirement System lifted its stake in shares of TPI Composites by 55.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 5,930 shares during the period. Quantinno Capital Management LP acquired a new position in shares of TPI Composites during the third quarter valued at approximately $57,000. Intech Investment Management LLC bought a new stake in TPI Composites during the third quarter worth approximately $65,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TPI Composites in the first quarter worth approximately $77,000. 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.