TPI Composites Inc (NASDAQ:TPIC) Expected to Announce Quarterly Sales of $409.93 Million

Brokerages expect TPI Composites Inc (NASDAQ:TPIC) to report sales of $409.93 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for TPI Composites’ earnings, with estimates ranging from $385.80 million to $433.38 million. TPI Composites posted sales of $254.98 million during the same quarter last year, which suggests a positive year-over-year growth rate of 60.8%. The company is scheduled to report its next earnings report on Wednesday, November 6th.

On average, analysts expect that TPI Composites will report full-year sales of $1.46 billion for the current fiscal year, with estimates ranging from $1.43 billion to $1.50 billion. For the next financial year, analysts expect that the company will post sales of $1.71 billion, with estimates ranging from $1.63 billion to $1.79 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover TPI Composites.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.33. The business had revenue of $330.77 million for the quarter, compared to analysts’ expectations of $330.90 million. TPI Composites had a negative return on equity of 5.59% and a negative net margin of 0.82%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS.



A number of equities analysts have commented on the company. Craig Hallum decreased their price target on TPI Composites from $37.00 to $31.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. BidaskClub raised TPI Composites from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Roth Capital decreased their price target on TPI Composites from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JMP Securities decreased their price target on TPI Composites from $34.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Tuesday, September 10th. Finally, Canaccord Genuity decreased their price target on TPI Composites from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.50.

In other TPI Composites news, President William E. Siwek acquired 2,823 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $17.73 per share, for a total transaction of $50,051.79. Following the transaction, the president now owns 67,676 shares in the company, valued at $1,199,895.48. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 20.30% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. TCI Wealth Advisors Inc. bought a new stake in shares of TPI Composites during the second quarter valued at approximately $25,000. Bank of Montreal Can bought a new stake in shares of TPI Composites during the second quarter valued at approximately $59,000. Cubist Systematic Strategies LLC bought a new stake in shares of TPI Composites during the second quarter valued at approximately $63,000. BNP Paribas Arbitrage SA boosted its position in shares of TPI Composites by 4,759.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 3,046 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of TPI Composites during the first quarter valued at approximately $115,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.

TPI Composites stock traded up $0.41 during trading hours on Wednesday, reaching $19.73. The company had a trading volume of 641,436 shares, compared to its average volume of 480,244. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.27 and a quick ratio of 1.25. The company has a 50-day moving average price of $19.05 and a 200 day moving average price of $24.49. TPI Composites has a 12-month low of $16.80 and a 12-month high of $32.74.

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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