StockNews.com Begins Coverage on TPI Composites (NASDAQ:TPIC)

StockNews.com initiated coverage on shares of TPI Composites (NASDAQ:TPIC – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on TPIC. Seaport Res Ptn restated a neutral rating on shares of TPI Composites in a report on Sunday, February 26th. Morgan Stanley dropped their price objective on shares of TPI Composites from $21.00 to $17.00 and set an equal weight rating for the company in a research note on Tuesday, January 10th. Cowen upped their price objective on shares of TPI Composites from $13.00 to $17.00 and gave the company an outperform rating in a research note on Friday, February 10th. Bank of America raised shares of TPI Composites from an underperform rating to a buy rating and upped their price objective for the company from $9.00 to $14.00 in a research note on Thursday, February 23rd. Finally, Piper Sandler lifted their price target on shares of TPI Composites from $12.00 to $15.00 and gave the company a neutral rating in a research report on Monday, February 27th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $18.08.

TPI Composites Price Performance

Shares of TPIC opened at $11.50 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.41 and a quick ratio of 1.39. The company’s fifty day moving average is $13.12 and its two-hundred day moving average is $12.14. TPI Composites has a 1 year low of $8.46 and a 1 year high of $25.05.

TPI Composites (NASDAQ:TPIC – Get Rating) last issued its earnings results on Wednesday, February 22nd. The industrial products company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.07. The company had revenue of $402.28 million for the quarter, compared to analyst estimates of $443.71 million. TPI Composites had a negative net margin of 3.84% and a negative return on equity of 38.17%. On average, analysts forecast that TPI Composites will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TPI Composites

A number of institutional investors have recently modified their holdings of TPIC. Scout Investments Inc. grew its position in TPI Composites by 11.7% in the 3rd quarter. Scout Investments Inc. now owns 321,162 shares of the industrial products company’s stock worth $3,623,000 after purchasing an additional 33,534 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of TPI Composites by 156.9% during the third quarter. Cubist Systematic Strategies LLC now owns 192,710 shares of the industrial products company’s stock valued at $2,174,000 after buying an additional 117,705 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of TPI Composites by 1,882.2% during the second quarter. Point72 Asset Management L.P. now owns 691,800 shares of the industrial products company’s stock valued at $8,648,000 after buying an additional 656,900 shares in the last quarter. Sycomore Asset Management grew its stake in TPI Composites by 0.9% in the third quarter. Sycomore Asset Management now owns 358,451 shares of the industrial products company’s stock valued at $4,344,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Third Point LLC purchased a new position in TPI Composites in the third quarter valued at about $1,128,000. 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.