As of April 17, 2023, Tpi Composites (NASDAQ: TPIC) has received a Neutral rating from Piper Sandler analyst Kashy Harrison, who has lowered the price target from $15 to $14. TPI Composites specializes in manufacturing composite wind blades for the wind energy market. Its stock has received a “Moderate Buy” consensus rating from the fourteen analysts covering the company.
Over the past year, analysts who have issued ratings on the stock have given it an average 1-year price target of $17.92. Wall Street analysts predict that TPI Composites’ share price could reach $18.00 by April 5, 2024. However, the stock’s price target varies among different analysts and firms.
TPI Composites’ stock price has been volatile over the past year, with a 52-week low of $7.70 and a high of $15.90. The company’s financial performance has also been mixed, with a net loss of $7.5 million in the fourth quarter of 2022. Despite this, TPI Composites has established a strong position in the wind energy market, with long-term supply agreements with major wind turbine manufacturers. The company is also expanding its operations in China, which is expected to be a key growth market for wind energy.
When considering TPI Composites’ stock price and financial performance, investors should consider various factors, including the demand for wind energy, competition in the wind blade market, and global economic conditions. It is recommended that investors consult multiple analysts’ opinions before making any investment decisions.
TPIC Stock Update: Strong Earnings Growth in 2022, Negative Revenue Growth in the Past Year
On April 17, 2023, TPIC stock opened at $12.57 and had a day’s range between $12.57 and $13.53, with a volume of 38,895 shares traded. The market capitalization for TPIC was $536.2M, and the company had shown strong earnings growth in the past year, with a 33.11% increase, and a 40.83% increase expected for the current year. However, revenue growth for the previous year was negative, at -12.11%, and the P/E ratio was unavailable. TPIC was expected to report its earnings on May 4, 2023, with an EPS forecast of -$0.47 for the current quarter.
TPI Composites Inc: Stock Performance and Future Prospects – Analysis and Predictions for Investors
As of April 17, 2023, TPI Composites Inc’s stock performance has a median target of 17.00, with a potential increase of 27.53% from the last price of 13.33. The consensus among 16 polled investment analysts is to buy stock in TPI Composites Inc, suggesting investors are optimistic about the company’s prospects. However, the company’s current quarter earnings per share are -$0.47, indicating it is operating at a loss. Investors will closely watch the company’s upcoming reporting date on May 04 to see if any positive developments could potentially boost the stock’s performance.
The post TPI Composites Receives Neutral Rating from Piper Sandler Analyst Price Target Lowered appeared first on Best Stocks.
