StockNews.com cut shares of TPI Composites (NASDAQ:TPIC – Get Rating) from a hold rating to a sell rating in a report released on Thursday.
Other equities analysts have also recently issued research reports about the company. Guggenheim upgraded TPI Composites from a neutral rating to a buy rating and set a $22.00 target price for the company in a report on Thursday, March 16th. They noted that the move was a valuation call. Raymond James reduced their price objective on shares of TPI Composites from $24.00 to $22.00 and set an outperform rating for the company in a research note on Wednesday, April 5th. Piper Sandler reduced their price objective on shares of TPI Composites from $14.00 to $12.00 in a research note on Monday. Bank of America increased their price objective on shares of TPI Composites from $14.00 to $15.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TPI Composites from $20.00 to $19.00 and set an overweight rating for the company in a research note on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $16.92.
TPI Composites Stock Performance
TPIC stock opened at $11.49 on Thursday. The stock has a 50-day moving average price of $11.55 and a two-hundred day moving average price of $11.83. The company has a current ratio of 1.71, a quick ratio of 1.67 and a debt-to-equity ratio of 0.02. TPI Composites has a 1 year low of $8.46 and a 1 year high of $25.05.
Institutional Investors Weigh In On TPI Composites
Several hedge funds have recently bought and sold shares of TPIC. Van ECK Associates Corp acquired a new stake in TPI Composites in the 1st quarter valued at about $35,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in TPI Composites during the first quarter worth approximately $41,000. Point72 Hong Kong Ltd lifted its position in TPI Composites by 1,561.5% during the second quarter. Point72 Hong Kong Ltd now owns 3,456 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 3,248 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in TPI Composites during the third quarter worth approximately $51,000. Finally, AXS Investments LLC acquired a new stake in TPI Composites during the first quarter worth approximately $51,000. 82.07% of the stock is currently owned by institutional investors and hedge funds.
TPI Composites Company Profile
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.
- Get a free copy of the StockNews.com research report on TPI Composites (TPIC)
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
- Best Buy’s Comeback Is Still At Play, Earnings Call For Patience
- e.l.f. Beauty Has Giant Quarter, Shares Hit New High
- If You Can Only Pick One Stock For The Rest Of 2023, Pick Nvidia
Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.