TPI Composites (NASDAQ:TPIC) Given New $3.75 Price Target at Roth Mkm

TPI Composites (NASDAQ:TPIC) had its price target raised by Roth Mkm from $3.30 to $3.75 in a research report sent to investors on Monday, Benzinga reports. Roth Mkm currently has a neutral rating on the industrial products company’s stock.

Separately, Piper Sandler restated a neutral rating and issued a $3.00 target price (down previously from $4.00) on shares of TPI Composites in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $8.53.

TPI Composites Stock Performance

Shares of TPIC stock opened at $3.99 on Monday. The firm has a fifty day simple moving average of $2.87 and a two-hundred day simple moving average of $2.83. TPI Composites has a 12 month low of $1.63 and a 12 month high of $12.24.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.91) by $1.18. The business had revenue of $296.99 million for the quarter, compared to the consensus estimate of $340.91 million. During the same period in the previous year, the firm earned ($0.73) earnings per share. As a group, analysts predict that TPI Composites will post -1.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TPIC. Oaktree Capital Management LP raised its stake in shares of TPI Composites by 556.5% during the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock worth $19,047,000 after purchasing an additional 3,899,903 shares during the period. Carmignac Gestion boosted its stake in TPI Composites by 10.2% in the third quarter. Carmignac Gestion now owns 1,099,383 shares of the industrial products company’s stock valued at $2,913,000 after acquiring an additional 102,005 shares during the last quarter. Covalis Capital LLP purchased a new position in TPI Composites in the third quarter valued at about $2,163,000. Rock Point Advisors LLC grew its position in shares of TPI Composites by 98.9% during the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock valued at $1,677,000 after acquiring an additional 314,715 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of TPI Composites by 46.5% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 546,791 shares of the industrial products company’s stock worth $1,449,000 after purchasing an additional 173,466 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.