Piper Sandler analyst Kashy Harrison reiterated a Hold rating on TPI Composites (TPIC – Research Report) today and set a price target of $3.00. The company’s shares closed yesterday at $2.51.
Harrison covers the Technology sector, focusing on stocks such as Enphase Energy, SolarEdge Technologies, and Sunrun. According to TipRanks, Harrison has an average return of -19.5% and a 30.32% success rate on recommended stocks.
TPI Composites has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.
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Based on TPI Composites’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $372.86 million and a GAAP net loss of $72.85 million. In comparison, last year the company earned a revenue of $384.44 million and had a GAAP net loss of $16.44 million
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TPI Composites (TPIC) Company Description:
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. The Asia segment produces wind blades in Taicang Port, Dafeng, and Yangzhou, China facilities. The Mexico segment focuses its operation of wind blades in Juárez and Matamoros, Mexico. The EMEAI segment offers wind blades from two facilities in Izmir, Turkey; and also performs wind blade inspection and repair services. The company was founded by Everett Pearson and Neil Tillotson in 1968 and is headquartered in Scottsdale, AZ.
Read More on TPIC:
- TPI Composites, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Results; Enhanced Liquidity Position and Projects Improved Profitability for the Second Half of 2024
- TPIC Earnings this Week: How Will it Perform?
- TPI Composites, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release Date and Conference Call
- TPI Composites price target lowered to $4 from $13 at Stifel
- TPI Composites files to sell 4.6M shares of common stock for holders
