$223.43 Million in Sales Expected for TPI Composites (TPIC) This Quarter

Wall Street analysts expect that TPI Composites (NASDAQ:TPIC) will report sales of $223.43 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for TPI Composites’ earnings, with the highest sales estimate coming in at $230.40 million and the lowest estimate coming in at $215.98 million. TPI Composites reported sales of $191.60 million in the same quarter last year, which suggests a positive year over year growth rate of 16.6%. The business is scheduled to report its next quarterly earnings results on Monday, May 14th.

According to Zacks, analysts expect that TPI Composites will report full year sales of $223.43 million for the current year, with estimates ranging from $990.50 million to $1.03 billion. For the next financial year, analysts expect that the business will post sales of $1.34 billion per share, with estimates ranging from $1.30 billion to $1.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow TPI Composites.

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TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, March 8th. The industrial products company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). The firm had revenue of $247.10 million during the quarter, compared to analysts’ expectations of $249.00 million. TPI Composites had a net margin of 4.70% and a return on equity of 31.56%. The firm’s revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS.

Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Saturday, March 10th. UBS assumed coverage on shares of TPI Composites in a research report on Thursday, March 15th. They issued a “neutral” rating and a $23.00 price target for the company. ValuEngine downgraded shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. BidaskClub downgraded shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, Craig Hallum began coverage on shares of TPI Composites in a research report on Tuesday, January 16th. They issued a “buy” rating and a $33.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. TPI Composites presently has an average rating of “Buy” and an average target price of $26.89.

In other TPI Composites news, Director Philip J. Deutch sold 317,000 shares of the stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $21.83, for a total value of $6,920,110.00. Following the completion of the sale, the director now owns 2,880 shares in the company, valued at approximately $62,870.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel G. Weiss sold 200,000 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $22.54, for a total transaction of $4,508,000.00. Following the transaction, the director now owns 2,880 shares in the company, valued at approximately $64,915.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 667,426 shares of company stock valued at $14,818,370. Insiders own 73.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Trexquant Investment LP acquired a new position in shares of TPI Composites during the 3rd quarter worth $211,000. The Manufacturers Life Insurance Company increased its stake in shares of TPI Composites by 310.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,011 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 7,571 shares during the last quarter. Sei Investments Co. increased its stake in shares of TPI Composites by 30.4% during the 3rd quarter. Sei Investments Co. now owns 10,089 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 2,355 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of TPI Composites by 36.9% during the 3rd quarter. Wells Fargo & Company MN now owns 10,607 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 2,857 shares during the last quarter. Finally, Ellington Management Group LLC acquired a new position in shares of TPI Composites during the 4th quarter worth $221,000. Institutional investors own 38.65% of the company’s stock.

Shares of NASDAQ:TPIC traded up $0.09 during mid-day trading on Monday, hitting $22.59. The stock had a trading volume of 208,379 shares, compared to its average volume of 190,682. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.93 and a current ratio of 1.34. The company has a market cap of $767.18, a PE ratio of 18.07 and a beta of -0.95. TPI Composites has a 12-month low of $15.26 and a 12-month high of $26.00.

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About TPI Composites

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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