Wall Street brokerages forecast that TPI Composites Inc (NASDAQ:TPIC) will announce sales of $264.35 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for TPI Composites’ earnings. The highest sales estimate is $269.04 million and the lowest is $256.20 million. TPI Composites reported sales of $243.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that TPI Composites will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $1.02 billion to $1.05 billion. For the next year, analysts anticipate that the firm will post sales of $1.35 billion per share, with estimates ranging from $1.29 billion to $1.41 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow TPI Composites.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.09). The business had revenue of $230.61 million for the quarter, compared to analyst estimates of $240.29 million. TPI Composites had a return on equity of 17.01% and a net margin of 3.17%.

A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Craig Hallum increased their target price on shares of TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Cowen set a $35.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a report on Wednesday, August 8th. Canaccord Genuity increased their target price on shares of TPI Composites from $26.00 to $35.50 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Finally, TheStreet lowered shares of TPI Composites from a “b-” rating to a “c” rating in a report on Wednesday, August 22nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $33.61.

In other news, Director Daniel G. Weiss sold 5,075 shares of the firm’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $29.56, for a total value of $150,017.00. Following the sale, the director now directly owns 6,620 shares in the company, valued at approximately $195,687.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Landmark Equity Advisors Llc sold 600,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $25.90, for a total transaction of $15,540,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,515,605 shares of company stock worth $69,492,506 over the last 90 days. Company insiders own 58.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of TPI Composites by 19.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 572,712 shares of the industrial products company’s stock valued at $16,746,000 after purchasing an additional 92,004 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of TPI Composites in the 2nd quarter valued at $214,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of TPI Composites in the 2nd quarter valued at $162,000. Hilltop Holdings Inc. acquired a new stake in shares of TPI Composites in the 2nd quarter valued at $266,000. Finally, Paloma Partners Management Co acquired a new stake in shares of TPI Composites in the 2nd quarter valued at $346,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

TPI Composites stock traded down $0.45 during mid-day trading on Tuesday, reaching $27.00. 6,546 shares of the company’s stock were exchanged, compared to its average volume of 389,843. The firm has a market cap of $943.59 million, a PE ratio of 21.81 and a beta of -0.91. TPI Composites has a twelve month low of $16.35 and a twelve month high of $32.22. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.39.

TPI Composites Company Profile

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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