Equities research analysts forecast that TPI Composites, Inc. (NASDAQ:TPIC) will report $221.20 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for TPI Composites’ earnings, with the lowest sales estimate coming in at $216.10 million and the highest estimate coming in at $226.29 million. TPI Composites posted sales of $194.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.9%. The company is expected to announce its next quarterly earnings results on Wednesday, August 9th.
According to Zacks, analysts expect that TPI Composites will report full-year sales of $221.20 million for the current fiscal year, with estimates ranging from $902.90 million to $944.36 million. For the next fiscal year, analysts anticipate that the business will post sales of $1.12 billion per share, with estimates ranging from $977.70 million to $1.28 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for TPI Composites.
TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $191.60 million for the quarter, compared to analyst estimates of $213.26 million. TPI Composites had a return on equity of 51.28% and a net margin of 2.03%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.16) EPS.
A number of analysts recently weighed in on the stock. Roth Capital set a $23.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a report on Saturday, May 27th. Barclays PLC set a $23.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a report on Monday, May 8th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of TPI Composites in a report on Monday, March 20th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.00.
In other TPI Composites news, Director Paul G. Giovacchini sold 1,245,348 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $16.35, for a total value of $20,361,439.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack A. Henry purchased 4,400 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was bought at an average cost of $16.82 per share, with a total value of $74,008.00. Following the purchase, the director now owns 4,400 shares in the company, valued at $74,008. The disclosure for this purchase can be found here. In the last three months, insiders sold 2,513,253 shares of company stock valued at $41,091,687. Corporate insiders own 73.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Handelsinvest Investeringsforvaltning bought a new position in TPI Composites during the second quarter worth approximately $2,264,000. Handelsbanken Fonder AB boosted its position in TPI Composites by 213.7% in the second quarter. Handelsbanken Fonder AB now owns 664,172 shares of the industrial products company’s stock worth $12,274,000 after buying an additional 452,453 shares in the last quarter. Perigon Wealth Management LLC boosted its position in TPI Composites by 14.6% in the first quarter. Perigon Wealth Management LLC now owns 15,441 shares of the industrial products company’s stock worth $294,000 after buying an additional 1,965 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in TPI Composites during the first quarter worth approximately $444,000. Finally, Schwab Charles Investment Management Inc. boosted its position in TPI Composites by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 24,734 shares of the industrial products company’s stock worth $471,000 after buying an additional 1,368 shares in the last quarter. 23.65% of the stock is owned by institutional investors and hedge funds.
TPI Composites (TPIC) traded down 0.37% during mid-day trading on Friday, hitting $18.72. 183,907 shares of the company traded hands. The firm has a 50 day moving average of $17.08 and a 200 day moving average of $17.69. The firm has a market capitalization of $614.00 million and a P/E ratio of 37.44. TPI Composites has a one year low of $11.31 and a one year high of $23.30.
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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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