TPI Composites (NASDAQ:TPIC) Price Target Raised to $15.00 at Bank of America

TPI Composites (NASDAQ:TPIC – Get Rating) had its price objective raised by Bank of America from $14.00 to $15.00 in a research report sent to investors on Wednesday, The Fly reports.

A number of other analysts also recently issued reports on the stock. Raymond James cut their price objective on shares of TPI Composites from $24.00 to $22.00 and set an outperform rating for the company in a report on Wednesday, April 5th. JPMorgan Chase & Co. cut their price objective on shares of TPI Composites from $20.00 to $19.00 and set an overweight rating for the company in a report on Thursday, February 23rd. StockNews.com raised shares of TPI Composites from a sell rating to a hold rating in a report on Tuesday, May 16th. Cowen boosted their price objective on shares of TPI Composites from $13.00 to $17.00 and gave the company an outperform rating in a report on Friday, February 10th. Finally, Seaport Res Ptn reissued a neutral rating on shares of TPI Composites in a report on Sunday, February 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, TPI Composites currently has an average rating of Moderate Buy and a consensus price target of $16.92.

TPI Composites Stock Performance

Shares of TPIC stock opened at $11.45 on Wednesday. The company has a market capitalization of $486.40 million, a price-to-earnings ratio of -3.66 and a beta of 1.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.67 and a current ratio of 1.71. The company has a 50-day simple moving average of $11.57 and a 200 day simple moving average of $11.83. TPI Composites has a 52 week low of $8.46 and a 52 week high of $25.05.

TPI Composites (NASDAQ:TPIC – Get Rating) last announced its earnings results on Wednesday, May 3rd. The industrial products company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.31). The company had revenue of $404.07 million for the quarter, compared to the consensus estimate of $383.20 million. TPI Composites had a negative return on equity of 58.56% and a negative net margin of 4.17%. On average, sell-side analysts predict that TPI Composites will post -1.48 earnings per share for the current year.

Institutional Trading of TPI Composites

A number of institutional investors and hedge funds have recently made changes to their positions in TPIC. Carmignac Gestion lifted its holdings in shares of TPI Composites by 173.8% during the 4th quarter. Carmignac Gestion now owns 851,766 shares of the industrial products company’s stock worth $8,637,000 after acquiring an additional 540,669 shares during the period. Essex Investment Management Co. LLC increased its position in TPI Composites by 123.3% during the 1st quarter. Essex Investment Management Co. LLC now owns 765,292 shares of the industrial products company’s stock worth $9,987,000 after purchasing an additional 422,584 shares in the last quarter. Caas Capital Management LP acquired a new position in TPI Composites during the 3rd quarter worth approximately $4,576,000. Nishkama Capital LLC acquired a new position in TPI Composites during the 1st quarter worth approximately $5,185,000. Finally, Candriam S.C.A. acquired a new position in TPI Composites during the 1st quarter worth approximately $4,754,000. 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.