Equities research analysts expect TPI Composites Inc (NASDAQ:TPIC) to post sales of $264.35 million for the current quarter, according to Zacks. Three analysts have issued estimates for TPI Composites’ earnings, with estimates ranging from $256.20 million to $269.04 million. TPI Composites reported sales of $243.35 million in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The business is expected to announce its next earnings results after the market closes on Wednesday, November 7th.
On average, analysts expect that TPI Composites will report full year sales of $1.03 billion for the current year, with estimates ranging from $1.02 billion to $1.05 billion. For the next year, analysts forecast that the business will post sales of $1.39 billion, with estimates ranging from $1.34 billion to $1.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for TPI Composites.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. The business had revenue of $230.61 million during the quarter, compared to analyst estimates of $240.29 million.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of TPI Composites from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $42.00 price target (up from $31.00) on shares of TPI Composites in a research note on Monday. BidaskClub cut shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. TheStreet cut shares of TPI Composites from a “b-” rating to a “c” rating in a research report on Wednesday, August 22nd. Finally, ValuEngine cut shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.06.
TPIC stock opened at $25.26 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.65. TPI Composites has a 52 week low of $16.35 and a 52 week high of $32.22. The stock has a market capitalization of $821.77 million, a P/E ratio of 20.21 and a beta of -0.89.
In other news, Director Philip J. Deutch sold 51,664 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $26.46, for a total value of $1,367,029.44. Following the completion of the transaction, the director now owns 6,620 shares of the company’s stock, valued at $175,165.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Element Partners Ii Intrafund sold 223,182 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $28.56, for a total transaction of $6,374,077.92. The disclosure for this sale can be found here. Insiders have sold 2,629,265 shares of company stock valued at $71,710,366 in the last ninety days. 58.20% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Perella Weinberg Partners Capital Management LP lifted its holdings in shares of TPI Composites by 147.0% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 59,542 shares of the industrial products company’s stock worth $1,700,000 after acquiring an additional 35,440 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of TPI Composites by 41.7% in the third quarter. Russell Investments Group Ltd. now owns 345,050 shares of the industrial products company’s stock worth $9,854,000 after acquiring an additional 101,551 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of TPI Composites by 165.7% in the third quarter. First Trust Advisors LP now owns 134,340 shares of the industrial products company’s stock worth $3,835,000 after acquiring an additional 83,780 shares during the last quarter. Handelsinvest Investeringsforvaltning lifted its holdings in shares of TPI Composites by 9.4% in the third quarter. Handelsinvest Investeringsforvaltning now owns 350,000 shares of the industrial products company’s stock worth $9,993,000 after acquiring an additional 30,000 shares during the last quarter. Finally, First Quadrant L P CA lifted its holdings in shares of TPI Composites by 155.0% in the third quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 2,949 shares during the last quarter. 51.05% of the stock is owned by hedge funds and other institutional investors.
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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