TPI Composites, Inc. (NASDAQ:TPIC) Expected to Announce Quarterly Sales of $430.27 Million

Equities research analysts expect TPI Composites, Inc. (NASDAQ:TPIC) to announce sales of $430.27 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for TPI Composites’ earnings, with the highest sales estimate coming in at $446.13 million and the lowest estimate coming in at $413.50 million. TPI Composites posted sales of $373.82 million in the same quarter last year, which suggests a positive year over year growth rate of 15.1%. The company is expected to announce its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that TPI Composites will report full year sales of $1.81 billion for the current financial year, with estimates ranging from $1.79 billion to $1.84 billion. For the next year, analysts expect that the company will post sales of $2.00 billion, with estimates ranging from $1.92 billion to $2.07 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for TPI Composites.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, May 6th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.05. TPI Composites had a negative net margin of 1.18% and a positive return on equity of 13.12%. The company had revenue of $404.68 million for the quarter, compared to the consensus estimate of $414.90 million. During the same period last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year.

A number of brokerages recently weighed in on TPIC. Zacks Investment Research upgraded shares of TPI Composites from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Thursday. Seaport Global Securities began coverage on shares of TPI Composites in a report on Thursday, July 15th. They set a “buy” rating and a $67.00 target price on the stock. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of TPI Composites in a report on Monday, May 17th. Morgan Stanley lowered their target price on shares of TPI Composites from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, May 18th. Finally, Evercore ISI began coverage on shares of TPI Composites in a report on Monday, April 19th. They set an “outperform” rating and a $65.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. TPI Composites presently has an average rating of “Buy” and an average target price of $59.62.

In other news, Director Steven C. Lockard sold 158,593 shares of the business’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $45.00, for a total value of $7,136,685.00. Following the completion of the sale, the director now owns 584,295 shares of the company’s stock, valued at $26,293,275. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William E. Siwek sold 2,130 shares of the business’s stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $44.41, for a total transaction of $94,593.30. Following the completion of the sale, the chief executive officer now directly owns 107,476 shares of the company’s stock, valued at approximately $4,773,009.16. The disclosure for this sale can be found here. In the last three months, insiders sold 220,355 shares of company stock valued at $10,044,534. 5.60% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in TPIC. Banque Cantonale Vaudoise bought a new stake in TPI Composites during the first quarter worth about $31,000. Orion Capital Management LLC bought a new stake in TPI Composites during the fourth quarter worth about $53,000. Exchange Traded Concepts LLC lifted its position in TPI Composites by 251.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 830 shares during the period. IFP Advisors Inc bought a new stake in TPI Composites during the first quarter worth about $79,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in TPI Composites during the first quarter worth about $100,000. 80.50% of the stock is owned by institutional investors.

Shares of NASDAQ TPIC traded down $0.96 during midday trading on Monday, reaching $41.64. The company’s stock had a trading volume of 1,420 shares, compared to its average volume of 590,510. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.28 and a quick ratio of 1.25. TPI Composites has a fifty-two week low of $24.02 and a fifty-two week high of $81.36. The company has a market cap of $1.53 billion, a PE ratio of -65.54 and a beta of 1.58. The stock has a 50 day simple moving average of $45.64.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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