JPMorgan Chase & Co. Downgrades TPI Composites (NASDAQ:TPIC) to Neutral

Share on StockTwits

JPMorgan Chase & Co. downgraded shares of TPI Composites (NASDAQ:TPIC) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has $24.00 target price on the industrial products company’s stock. The analysts noted that the move was a valuation call.

TPIC has been the subject of a number of other research reports. ValuEngine upgraded TPI Composites from a buy rating to a strong-buy rating in a report on Friday, February 7th. Zacks Investment Research upgraded shares of TPI Composites from a strong sell rating to a hold rating in a research note on Friday, January 10th. JMP Securities increased their price objective on shares of TPI Composites from $20.00 to $30.00 and gave the stock an outperform rating in a research note on Monday, February 10th. BidaskClub upgraded shares of TPI Composites from a buy rating to a strong-buy rating in a research note on Thursday, January 16th. Finally, Roth Capital increased their price objective on shares of TPI Composites from to and gave the stock a neutral rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. TPI Composites presently has an average rating of Buy and a consensus price target of $26.89.

TPIC stock opened at $24.59 on Tuesday. The stock has a 50-day moving average price of $20.40 and a two-hundred day moving average price of $19.23. The stock has a market cap of $865.10 million, a PE ratio of -35.64 and a beta of 1.58. The company has a current ratio of 1.26, a quick ratio of 1.22 and a debt-to-equity ratio of 1.15. TPI Composites has a 1 year low of $15.34 and a 1 year high of $32.74.

Several institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of TPI Composites during the fourth quarter worth approximately $58,000. Jane Street Group LLC bought a new position in shares of TPI Composites during the fourth quarter worth approximately $189,000. Bank of America Corp DE increased its holdings in shares of TPI Composites by 58.0% during the fourth quarter. Bank of America Corp DE now owns 31,929 shares of the industrial products company’s stock worth $591,000 after purchasing an additional 11,715 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of TPI Composites by 254.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 413,891 shares of the industrial products company’s stock worth $7,661,000 after purchasing an additional 297,281 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of TPI Composites during the fourth quarter worth approximately $1,220,000. Institutional investors own 86.09% 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. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

Featured Article: Outstanding Shares, Buying and Selling Stocks

Analyst Recommendations for TPI Composites (NASDAQ:TPIC)

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.