$244.90 Million in Sales Expected for TPI Composites Inc (TPIC) This Quarter
Analysts expect TPI Composites Inc (NASDAQ:TPIC) to report sales of $244.90 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for TPI Composites’ earnings, with estimates ranging from $243.20 million to $248.21 million. TPI Composites reported sales of $185.57 million in the same quarter last year, which indicates a positive year over year growth rate of 32%. The company is expected to report its next earnings report on Thursday, March 15th.
According to Zacks, analysts expect that TPI Composites will report full-year sales of $244.90 million for the current year, with estimates ranging from $926.40 million to $947.04 million. For the next financial year, analysts expect that the firm will report sales of $1.02 billion per share, with estimates ranging from $990.50 million to $1.03 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow TPI Composites.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.36. The company had revenue of $243.35 million during the quarter, compared to analyst estimates of $252.42 million. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share.
Several equities research analysts have commented on TPIC shares. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. JMP Securities started coverage on TPI Composites in a research note on Thursday, November 16th. They set an “outperform” rating and a $33.00 price target for the company. JPMorgan Chase & Co. upgraded TPI Composites from a “neutral” rating to an “overweight” rating and set a $27.00 price target for the company in a research note on Thursday, November 30th. Zacks Investment Research lowered TPI Composites from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Finally, Canaccord Genuity upped their price target on TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. TPI Composites currently has a consensus rating of “Buy” and a consensus price target of $27.00.
Shares of TPI Composites (NASDAQ TPIC) traded down $0.14 during trading hours on Friday, reaching $20.45. The company’s stock had a trading volume of 126,376 shares, compared to its average volume of 197,457. The firm has a market capitalization of $695.50, a price-to-earnings ratio of 20.05 and a beta of -1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 0.93. TPI Composites has a 12 month low of $15.26 and a 12 month high of $26.00.
In other news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $18.79, for a total value of $608,570.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel G. Weiss sold 51,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $19.14, for a total value of $976,140.00. Following the completion of the sale, the director now owns 2,880 shares of the company’s stock, valued at approximately $55,123.20. The disclosure for this sale can be found here. 73.70% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in shares of TPI Composites by 45.2% in the second quarter. FMR LLC now owns 1,556,068 shares of the industrial products company’s stock valued at $28,756,000 after buying an additional 484,681 shares in the last quarter. Vanguard Group Inc. boosted its holdings in TPI Composites by 79.9% in the second quarter. Vanguard Group Inc. now owns 485,589 shares of the industrial products company’s stock valued at $8,973,000 after purchasing an additional 215,680 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in TPI Composites by 14.4% in the third quarter. Bank of New York Mellon Corp now owns 413,837 shares of the industrial products company’s stock valued at $9,245,000 after purchasing an additional 52,147 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in TPI Composites by 5.3% in the third quarter. Wasatch Advisors Inc. now owns 342,630 shares of the industrial products company’s stock valued at $7,654,000 after purchasing an additional 17,351 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in TPI Composites by 238.5% in the second quarter. Bamco Inc. NY now owns 313,100 shares of the industrial products company’s stock valued at $5,786,000 after purchasing an additional 220,600 shares during the last quarter. Institutional investors and hedge funds own 33.89% of the company’s stock.
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TPI Composites Company Profile
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. 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 in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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