Morgan Stanley reaffirmed their buy rating on shares of TPI Composites Inc (NASDAQ:TPIC) in a research note issued to investors on Tuesday. Morgan Stanley currently has a $25.00 price objective on the stock.
A number of other equities research analysts have also recently issued reports on the company. Raymond James Financial Inc. started coverage on TPI Composites in a research note on Tuesday, August 16th. They issued an outperform rating and a $20.00 price objective on the stock. Canaccord Genuity restated a buy rating and issued a $23.00 price objective on shares of TPI Composites in a research note on Monday, September 19th. Cowen and Company started coverage on TPI Composites in a research note on Tuesday, August 16th. They issued an outperform rating and a $21.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on TPI Composites in a research note on Tuesday, August 16th. They issued an overweight rating and a $22.00 price objective on the stock. Five analysts have rated the stock with a buy rating, TPI Composites presently has an average rating of Buy and an average price target of $22.20.
Shares of TPI Composites (NASDAQ:TPIC) opened at 21.26 on Tuesday. The company’s 50-day moving average is $19.47 and its 200 day moving average is $18.04. TPI Composites has a 52-week low of $11.31 and a 52-week high of $22.72. The firm has a market capitalization of $697.31 million and a P/E ratio of 6.91.
In related news, Director James Alton Hughes purchased 13,636 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $149,996.00. Following the completion of the transaction, the director now directly owns 13,636 shares in the company, valued at approximately $149,996. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Steven G. Fishbach purchased 4,546 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were bought at an average price of $11.00 per share, for a total transaction of $50,006.00. Following the completion of the transaction, the general counsel now owns 4,546 shares of the company’s stock, valued at $50,006. The disclosure for this purchase can be found here.
About TPI Composites
TPI Composites, Inc (TPI) is a United States-based company engaged in manufacturing wind blades, and related precision molding and assembly systems. The Company operates through four geographic operating segments: the United States, Asia, Mexico and Europe, the Middle East and Africa (EMEA). The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades, and the manufacturing of composite solutions for the transportation industry.
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