TPI Composites (NASDAQ:TPIC) PT Lowered to $56.00 at Morgan Stanley

TPI Composites (NASDAQ:TPIC) had its target price cut by analysts at Morgan Stanley from $59.00 to $56.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential upside of 60.73% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Cowen reduced their price target on TPI Composites from $65.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, July 23rd. Raymond James reduced their price target on TPI Composites from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 5th. Bank of America began coverage on TPI Composites in a research report on Monday, August 30th. They issued an “underperform” rating and a $22.00 target price on the stock. Seaport Global Securities began coverage on TPI Composites in a research report on Thursday, July 15th. They issued a “buy” rating and a $67.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on TPI Composites from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $54.23.

Shares of TPIC traded down $0.08 during mid-day trading on Thursday, reaching $34.84. 6,952 shares of the company’s stock were exchanged, compared to its average volume of 746,686. The business’s fifty day simple moving average is $36.83 and its 200-day simple moving average is $43.75. TPI Composites has a 52-week low of $30.45 and a 52-week high of $81.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.27 and a quick ratio of 1.24. The stock has a market capitalization of $1.30 billion, a PE ratio of 249.37 and a beta of 1.58.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, August 5th. The industrial products company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.32). The business had revenue of $458.84 million during the quarter, compared to analyst estimates of $458.79 million. TPI Composites had a net margin of 0.33% and a return on equity of 2.42%. Equities research analysts predict that TPI Composites will post -1.67 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of TPIC. Green Alpha Advisors LLC grew its stake in shares of TPI Composites by 14.0% in the third quarter. Green Alpha Advisors LLC now owns 45,094 shares of the industrial products company’s stock worth $1,522,000 after purchasing an additional 5,526 shares in the last quarter. Golden Green Inc. lifted its holdings in shares of TPI Composites by 22.5% during the third quarter. Golden Green Inc. now owns 14,204 shares of the industrial products company’s stock valued at $479,000 after purchasing an additional 2,611 shares during the last quarter. Vancity Investment Management Ltd lifted its holdings in shares of TPI Composites by 1.0% during the third quarter. Vancity Investment Management Ltd now owns 301,899 shares of the industrial products company’s stock valued at $10,189,000 after purchasing an additional 2,936 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of TPI Composites by 30.7% during the second quarter. Parametric Portfolio Associates LLC now owns 34,459 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 8,085 shares during the last quarter. Finally, Morgan Stanley lifted its stake in TPI Composites by 39.3% in the 2nd quarter. Morgan Stanley now owns 1,639,247 shares of the industrial products company’s stock worth $79,372,000 after acquiring an additional 462,156 shares in the last quarter. 84.94% 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 manufacture of composite wind blades for the wind energy market. It operates through the following segments: United States (US); Asia; Mexico; and Europe, the Middle East, and Africa (EMEA). The US segment includes the production of wind blades in Newton, Iowa plant; and manufacturing of precision molding and assembly systems used for the manufacture of wind blades in Warren, Rhode Island facility, and composite solutions for the transportation industry.

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Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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