Equities research analysts predict that TPI Composites, Inc. (NASDAQ:TPIC) will report $221.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for TPI Composites’ earnings. The lowest sales estimate is $216.10 million and the highest is $226.29 million. TPI Composites reported sales of $194.26 million in the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, August 8th.
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 financial year, analysts expect that the firm will report sales of $1.12 billion per share, with estimates ranging from $977.70 million to $1.28 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover 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 net margin of 2.03% and a return on equity of 51.28%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share.
TPIC has been the subject of a number of research reports. Roth Capital set a $23.00 price objective on TPI Composites and gave the stock a “buy” rating in a research report on Saturday, May 27th. Zacks Investment Research downgraded TPI Composites from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC set a $23.00 target price on TPI Composites and gave the stock a “buy” rating in a research report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.00.
In other news, insider Steven C. Lockard sold 135,333 shares of TPI Composites stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $16.35, for a total value of $2,212,694.55. Following the completion of the sale, the insider now directly owns 155,561 shares of the company’s stock, valued at approximately $2,543,422.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack A. Henry bought 4,400 shares of the stock in a transaction dated Wednesday, May 31st. The stock was purchased at an average cost of $16.82 per share, with a total value of $74,008.00. Following the completion of the purchase, the director now directly owns 4,400 shares in the company, valued at approximately $74,008. The disclosure for this purchase can be found here. Insiders sold a total of 2,513,253 shares of company stock valued at $41,091,687 over the last three months. Insiders own 73.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in TPI Composites by 916.3% in the second quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock valued at $143,000 after buying an additional 6,973 shares during the period. CAPROCK Group Inc. bought a new stake in shares of TPI Composites during the second quarter worth approximately $316,000. Spark Investment Management LLC boosted its stake in shares of TPI Composites by 27.9% in the second quarter. Spark Investment Management LLC now owns 64,200 shares of the industrial products company’s stock worth $1,186,000 after buying an additional 14,000 shares during the period. Capital Management Associates NY boosted its stake in shares of TPI Composites by 31.6% in the second quarter. Capital Management Associates NY now owns 25,000 shares of the industrial products company’s stock worth $462,000 after buying an additional 6,000 shares during the period. Finally, Handelsinvest Investeringsforvaltning bought a new stake in shares of TPI Composites during the second quarter worth approximately $2,264,000. 25.25% of the stock is owned by institutional investors.
Shares of TPI Composites (NASDAQ TPIC) opened at 18.84 on Tuesday. The firm has a market capitalization of $617.93 million and a price-to-earnings ratio of 37.68. TPI Composites has a 52-week low of $13.27 and a 52-week high of $23.30. The company’s 50 day moving average price is $18.38 and its 200 day moving average price is $18.13.
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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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