Equities analysts expect that TPI Composites Inc (NASDAQ:TPIC) will announce sales of $264.35 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for TPI Composites’ earnings. The lowest sales estimate is $256.20 million and the highest is $269.04 million. TPI Composites posted sales of $243.35 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that TPI Composites will report full year sales of $1.03 billion for the current fiscal year, with estimates ranging from $1.02 billion to $1.05 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.35 billion per share, with estimates ranging from $1.29 billion to $1.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for TPI Composites.
TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). The company had revenue of $230.61 million for the quarter, compared to analysts’ expectations of $240.29 million. TPI Composites had a net margin of 3.17% and a return on equity of 17.01%.
TPIC has been the topic of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $26.00 price objective on shares of TPI Composites in a report on Friday, April 27th. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Friday, May 4th. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. UBS Group raised shares of TPI Composites from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $31.00 in a report on Wednesday, June 20th. Finally, Roth Capital set a $37.00 price target on shares of TPI Composites and gave the stock a “buy” rating in a research note on Tuesday, July 10th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.61.
In other news, Director Michael Lawrence Derosa sold 123,435 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $26.75, for a total value of $3,301,886.25. Following the transaction, the director now directly owns 6,620 shares of the company’s stock, valued at $177,085. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel G. Weiss sold 5,075 shares of TPI Composites stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $29.56, for a total transaction of $150,017.00. Following the transaction, the director now directly owns 6,620 shares in the company, valued at $195,687.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,239,944 shares of company stock worth $60,722,818. Insiders own 58.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of TPIC. Hood River Capital Management LLC purchased a new position in TPI Composites during the second quarter worth about $20,767,000. Handelsbanken Fonder AB raised its stake in TPI Composites by 46.0% during the first quarter. Handelsbanken Fonder AB now owns 1,714,151 shares of the industrial products company’s stock worth $38,483,000 after purchasing an additional 540,193 shares during the period. Trigran Investments Inc. raised its stake in TPI Composites by 130.7% during the second quarter. Trigran Investments Inc. now owns 848,543 shares of the industrial products company’s stock worth $24,811,000 after purchasing an additional 480,751 shares during the period. BlackRock Inc. raised its stake in TPI Composites by 38.7% during the second quarter. BlackRock Inc. now owns 959,762 shares of the industrial products company’s stock worth $28,063,000 after purchasing an additional 267,717 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in TPI Composites by 771.6% during the second quarter. Russell Investments Group Ltd. now owns 243,499 shares of the industrial products company’s stock worth $7,122,000 after purchasing an additional 215,563 shares during the period. 50.11% of the stock is currently owned by institutional investors.
TPIC traded up $1.25 during midday trading on Friday, hitting $28.22. 471,572 shares of the company traded hands, compared to its average volume of 282,074. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.39. The company has a market cap of $924.32 million, a price-to-earnings ratio of 22.58 and a beta of -0.70. TPI Composites has a 52-week low of $16.35 and a 52-week high of $32.22.
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.
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