Zacks: Brokerages Anticipate TPI Composites Inc (TPIC) Will Post Quarterly Sales of $264.35 Million

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Wall Street brokerages expect TPI Composites Inc (NASDAQ:TPIC) to post sales of $264.35 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for TPI Composites’ earnings. The lowest sales estimate is $256.20 million and the highest is $269.04 million. TPI Composites posted sales of $243.35 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The firm is expected to report its next earnings results on Wednesday, November 14th.

On average, analysts expect that TPI Composites will report full year sales of $1.03 billion for the current financial year, with estimates ranging from $1.02 billion to $1.05 billion. For the next financial year, analysts forecast that the firm will report sales of $1.35 billion, with estimates ranging from $1.29 billion to $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover TPI Composites.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.09). The business had revenue of $230.61 million for the quarter, compared to the consensus estimate of $240.29 million. TPI Composites had a return on equity of 17.01% and a net margin of 3.17%.

A number of analysts have issued reports on TPIC shares. Morgan Stanley raised their target price on TPI Composites from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. UBS Group raised their target price on TPI Composites from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. ValuEngine downgraded TPI Composites from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. TheStreet raised TPI Composites from a “c” rating to a “b-” rating in a research report on Monday, July 23rd. Finally, Craig Hallum raised their target price on TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.83.

NASDAQ:TPIC traded up $0.48 during trading hours on Monday, reaching $25.05. The stock had a trading volume of 551,740 shares, compared to its average volume of 289,133. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.65 and a quick ratio of 1.63. TPI Composites has a 12-month low of $16.35 and a 12-month high of $32.22. The company has a market capitalization of $982.48 million, a P/E ratio of 20.04 and a beta of -0.89.

In other TPI Composites news, major shareholder Element Partners Ii Lp sold 29,097 shares of the firm’s stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $25.30, for a total value of $736,154.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Lawrence Derosa sold 98,947 shares of the firm’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $25.32, for a total value of $2,505,338.04. Following the completion of the sale, the director now directly owns 6,620 shares of the company’s stock, valued at $167,618.40. The disclosure for this sale can be found here. Insiders sold 2,762,836 shares of company stock valued at $76,882,291 over the last three months. Company insiders own 58.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY purchased a new position in shares of TPI Composites in the second quarter valued at $162,000. Citadel Advisors LLC purchased a new position in shares of TPI Composites in the second quarter valued at $208,000. MetLife Investment Advisors LLC purchased a new position in shares of TPI Composites in the second quarter valued at $214,000. Sei Investments Co. grew its position in shares of TPI Composites by 40.3% in the first quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 2,294 shares in the last quarter. Finally, Hartford Investment Management Co. purchased a new position in shares of TPI Composites in the second quarter valued at $260,000. Institutional investors own 51.24% of the company’s stock.

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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