TPI Composites (NASDAQ:TPIC) Stock Price Up 13% on Analyst Upgrade

TPI Composites, Inc. (NASDAQ:TPICGet Rating)’s stock price traded up 13% on Thursday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock traded as high as $18.42 and last traded at $18.13. 5,621 shares were traded during trading, a decline of 99% from the average session volume of 612,572 shares. The stock had previously closed at $16.04.

A number of other brokerages have also recently commented on TPIC. Raymond James lowered their price target on TPI Composites from $25.00 to $21.00 and set a “strong-buy” rating for the company in a research note on Tuesday, July 12th. UBS Group reaffirmed a “maintains” rating and issued a $16.00 price target (up from $14.00) on shares of TPI Composites in a research note on Thursday. Cowen upped their price target on TPI Composites from $15.00 to $20.00 in a research note on Thursday. Roth Capital raised TPI Composites from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $16.00 in a research note on Friday, May 6th. Finally, Piper Sandler decreased their price objective on TPI Composites from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.33.

Hedge Funds Weigh In On TPI Composites

A number of large investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $28,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $37,000. Exane Derivatives acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $71,000. Amalgamated Bank acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $83,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $88,000.

TPI Composites Trading Up 0.1 %

The company has a market cap of $700.08 million, a price-to-earnings ratio of -4.26 and a beta of 1.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.40 and a current ratio of 1.45. The firm has a fifty day moving average price of $13.56 and a 200 day moving average price of $12.95.

TPI Composites (NASDAQ:TPICGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The industrial products company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23. TPI Composites had a negative return on equity of 75.13% and a negative net margin of 8.16%. The business had revenue of $384.90 million for the quarter, compared to analysts’ expectations of $392.92 million. During the same quarter in the prior year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts predict that TPI Composites, Inc. will post -1.36 EPS for the current fiscal year.

TPI Composites Company Profile

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TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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