Piper Sandler Boosts TPI Composites (NASDAQ:TPIC) Price Target to $17.00

TPI Composites (NASDAQ:TPICGet Rating) had its price target increased by Piper Sandler from $13.00 to $17.00 in a research note issued to investors on Thursday, The Fly reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other brokerages have also recently commented on TPIC. JPMorgan Chase & Co. raised TPI Composites from a neutral rating to an overweight rating and set a $27.00 price target for the company in a research note on Monday, August 8th. 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, August 4th. Cowen upped their price target on TPI Composites from $15.00 to $20.00 in a research note on Thursday, August 4th. StockNews.com raised TPI Composites from a sell rating to a hold rating in a research note on Friday, August 5th. Finally, Raymond James cut TPI Composites from a strong-buy rating to an outperform rating and upped their price target for the company from $21.00 to $28.00 in a research note on Tuesday, August 16th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $21.00.

TPI Composites Stock Performance

TPI Composites stock opened at $13.28 on Thursday. The stock has a 50-day simple moving average of $16.92 and a 200 day simple moving average of $14.58. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.01. TPI Composites has a 12-month low of $9.23 and a 12-month high of $36.66. The stock has a market capitalization of $495.17 million, a price-to-earnings ratio of -3.01 and a beta of 1.57.

TPI Composites (NASDAQ:TPICGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.18). The firm had revenue of $452.37 million for the quarter, compared to the consensus estimate of $434.35 million. TPI Composites had a negative return on equity of 77.45% and a negative net margin of 8.16%. On average, research analysts anticipate that TPI Composites will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TPI Composites news, major shareholder Bam Partners Trust sold 3,963,416 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $18.85, for a total transaction of $74,710,391.60. Following the completion of the transaction, the insider now owns 12,263 shares of the company’s stock, valued at approximately $231,157.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On TPI Composites

Large investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in TPI Composites during the 1st quarter worth 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. Point72 Hong Kong Ltd boosted its holdings in shares of TPI Composites by 1,561.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,456 shares of the industrial products company’s stock valued at $43,000 after buying an additional 3,248 shares during the last quarter. Exane Derivatives acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $71,000. Finally, Amalgamated Bank acquired a new stake in shares of TPI Composites in the 1st quarter valued at approximately $83,000. Institutional investors and hedge funds own 77.88% of the company’s stock.

TPI Composites Company Profile

(Get Rating)

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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