Equities analysts predict that TPI Composites Inc (NASDAQ:TPIC) will report $312.11 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for TPI Composites’ earnings. The highest sales estimate is $329.32 million and the lowest is $303.40 million. TPI Composites reported sales of $247.14 million during the same quarter last year, which would suggest a positive year over year growth rate of 26.3%. The business is scheduled to report its next quarterly earnings report on Thursday, March 14th.
On average, 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 $1.04 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.53 billion, with estimates ranging from $1.51 billion to $1.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow TPI Composites.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.34. TPI Composites had a return on equity of 5.74% and a net margin of 2.03%. The business had revenue of $255.00 million during the quarter, compared to analyst estimates of $258.35 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. TPI Composites’s revenue for the quarter was up .6% on a year-over-year basis.
TPIC has been the subject of several recent research reports. TheStreet raised TPI Composites from a “c” rating to a “b” rating in a report on Monday, November 26th. BidaskClub raised TPI Composites from a “hold” rating to a “buy” rating in a report on Friday, November 30th. ValuEngine raised TPI Composites from a “hold” rating to a “buy” rating in a report on Monday, November 12th. UBS Group set a $30.00 price target on TPI Composites and gave the company a “buy” rating in a report on Friday, November 9th. Finally, Cowen set a $33.00 price target on TPI Composites and gave the company a “buy” rating in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. TPI Composites currently has an average rating of “Buy” and a consensus price target of $35.56.
In other news, major shareholder Element Partners Ii Intrafund sold 129,104 shares of the company’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $25.29, for a total value of $3,265,040.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Lawrence Derosa sold 118,126 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $24.38, for a total value of $2,879,911.88. Following the completion of the transaction, the director now directly owns 6,620 shares of the company’s stock, valued at approximately $161,395.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,255,929 shares of company stock valued at $31,812,269. Corporate insiders own 58.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. First Quadrant L P CA boosted its stake in TPI Composites by 155.0% during the third quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock valued at $139,000 after buying an additional 2,949 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in TPI Composites during the second quarter valued at approximately $162,000. Citadel Advisors LLC bought a new position in TPI Composites during the second quarter valued at approximately $208,000. First Republic Investment Management Inc. bought a new position in TPI Composites during the third quarter valued at approximately $210,000. Finally, Bessemer Group Inc. bought a new position in TPI Composites during the third quarter valued at approximately $211,000. 61.36% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:TPIC traded up $2.20 during mid-day trading on Wednesday, hitting $29.97. 660,692 shares of the company traded hands, compared to its average volume of 246,811. TPI Composites has a one year low of $17.79 and a one year high of $32.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.55. The firm has a market capitalization of $951.47 million, a PE ratio of 23.98 and a beta of 0.56.
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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