TPI Composites (NASDAQ:TPIC) Cut to Underperform at Jefferies Financial Group

by · The Cerbat Gem

Jefferies Financial Group downgraded shares of TPI Composites (NASDAQ:TPIC – Free Report) from a hold rating to an underperform rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have $0.50 price objective on the industrial products company’s stock, down from their prior price objective of $2.30.

A number of other brokerages have also commented on TPIC. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Roth Mkm decreased their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Finally, UBS Group decreased their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TPI Composites presently has a consensus rating of “Hold” and a consensus target price of $3.19.

Check Out Our Latest Research Report on TPIC

TPI Composites Price Performance

Shares of TPI Composites stock opened at $0.89 on Tuesday. TPI Composites has a one year low of $0.88 and a one year high of $5.75. The firm has a market capitalization of $42.21 million, a price-to-earnings ratio of -0.17 and a beta of 2.07. The business has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $2.41.

TPI Composites (NASDAQ:TPIC – Get Free Report) last issued its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. On average, sell-side analysts expect that TPI Composites will post -0.9 EPS for the current year.

Insider Activity at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $1.44 per share, for a total transaction of $95,040.00. Following the completion of the purchase, the insider now owns 4,295,232 shares in the company, valued at approximately $6,185,134.08. This trade represents a 1.56 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 205,000 shares of company stock worth $307,050. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On TPI Composites

Several institutional investors have recently bought and sold shares of TPIC. Intech Investment Management LLC purchased a new position in TPI Composites in the third quarter valued at approximately $65,000. Dynamic Technology Lab Private Ltd bought a new stake in TPI Composites during the 3rd quarter valued at $155,000. Quantbot Technologies LP raised its holdings in TPI Composites by 24.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 5,653 shares during the period. BNP Paribas Financial Markets raised its holdings in TPI Composites by 391.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 51,502 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in TPI Composites during the 3rd quarter valued at $88,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About TPI Composites

(Get Free Report)

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.

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