Zacks: Analysts Anticipate TPI Composites Inc (TPIC) Will Post Quarterly Sales of $312.11 Million

Brokerages expect TPI Composites Inc (NASDAQ:TPIC) to announce $312.11 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for TPI Composites’ earnings, with the highest sales estimate coming in at $329.32 million and the lowest estimate coming in at $303.40 million. TPI Composites reported sales of $247.14 million in the same quarter last year, which indicates a positive year over year growth rate of 26.3%. The company is expected to issue its next earnings report on Thursday, March 14th.

According to Zacks, analysts expect that TPI Composites will report full year sales of $1.04 billion for the current financial year, with estimates ranging from $1.03 billion to $1.04 billion. For the next year, analysts forecast that the business will report sales of $1.50 billion, with estimates ranging from $1.45 billion to $1.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow TPI Composites.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Wednesday, November 7th. The industrial products company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.34. TPI Composites had a net margin of 2.03% and a return on equity of 5.74%. The firm had revenue of $255.00 million during the quarter, compared to analyst estimates of $258.35 million. During the same period in the prior year, the business earned $0.62 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year.

A number of equities analysts have recently commented on TPIC shares. JMP Securities increased their price objective on shares of TPI Composites from $36.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 8th. BidaskClub downgraded shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Cowen set a $35.00 price objective on shares of TPI Composites and gave the stock a “buy” rating in a research note on Wednesday, August 8th. UBS Group increased their price objective on shares of TPI Composites from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, ValuEngine downgraded shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $34.61.

TPI Composites stock opened at $25.53 on Friday. TPI Composites has a one year low of $16.35 and a one year high of $32.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.52. The stock has a market cap of $862.77 million, a PE ratio of 20.42 and a beta of 0.13.

In other news, CEO Steven C. Lockard sold 51,795 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $25.61, for a total value of $1,326,469.95. Following the sale, the chief executive officer now directly owns 317,416 shares of the company’s stock, valued at approximately $8,129,023.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Element Partners Ii Intrafund sold 223,182 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were 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. Over the last ninety days, insiders sold 2,484,431 shares of company stock worth $65,885,918. 58.20% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in TPI Composites by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 855,782 shares of the industrial products company’s stock valued at $24,433,000 after acquiring an additional 47,096 shares during the period. Rehmann Capital Advisory Group raised its holdings in TPI Composites by 3,941.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 14,589 shares of the industrial products company’s stock valued at $511,000 after acquiring an additional 14,228 shares during the period. Teachers Advisors LLC raised its holdings in TPI Composites by 9.6% in the 3rd quarter. Teachers Advisors LLC now owns 28,989 shares of the industrial products company’s stock valued at $828,000 after acquiring an additional 2,536 shares during the period. Thrivent Financial for Lutherans raised its holdings in TPI Composites by 30.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 421,671 shares of the industrial products company’s stock valued at $12,039,000 after acquiring an additional 98,092 shares during the period. Finally, MetLife Investment Advisors LLC raised its holdings in TPI Composites by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 11,376 shares of the industrial products company’s stock valued at $325,000 after acquiring an additional 4,044 shares during the period. 54.72% of the stock is currently owned by hedge funds and other institutional investors.

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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