$409.93 Million in Sales Expected for TPI Composites Inc (NASDAQ:TPIC) This Quarter

Wall Street brokerages expect TPI Composites Inc (NASDAQ:TPIC) to post $409.93 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TPI Composites’ earnings. The highest sales estimate is $433.38 million and the lowest is $385.80 million. TPI Composites posted sales of $254.98 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 60.8%. The business is expected to announce its next quarterly earnings results on Wednesday, November 6th.

On average, analysts expect that TPI Composites will report full-year sales of $1.46 billion for the current 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’ sales calculations are a mean average based on a survey of analysts that cover TPI Composites.

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

TPIC has been the subject of several analyst reports. JMP Securities lowered their price target on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating for the company in a report on Tuesday, September 10th. Benchmark initiated coverage on shares of TPI Composites in a report on Friday, October 4th. They set a “buy” rating and a $30.00 price target for the company. Canaccord Genuity lowered their price target on shares of TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group lowered their target price on shares of TPI Composites from $29.00 to $27.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Raymond James upgraded shares of TPI Composites from an “outperform” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. TPI Composites presently has a consensus rating of “Buy” and an average target price of $29.73.

NASDAQ TPIC traded up $0.02 on Friday, hitting $18.99. 185,347 shares of the stock were exchanged, compared to its average volume of 432,026. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. TPI Composites has a fifty-two week low of $16.80 and a fifty-two week high of $32.74. The company has a market cap of $666.44 million, a PE ratio of 237.31 and a beta of 1.72. The company has a 50-day moving average price of $18.47 and a 200-day moving average price of $23.11.

In other TPI Composites news, President William E. Siwek purchased 2,823 shares of TPI Composites stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $17.73 per share, for a total transaction of $50,051.79. Following the transaction, the president now directly owns 67,676 shares in the company, valued at $1,199,895.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 20.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. purchased a new position in TPI Composites during the 2nd quarter worth $25,000. Bank of Montreal Can purchased a new position in TPI Composites during the 2nd quarter worth $59,000. Cubist Systematic Strategies LLC purchased a new position in TPI Composites during the 2nd quarter worth $63,000. Tower Research Capital LLC TRC purchased a new position in TPI Composites during the 2nd quarter worth $135,000. Finally, Atria Investments LLC purchased a new position in TPI Composites during the 2nd quarter worth $696,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

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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