TPI Composites (NASDAQ:TPIC) posted its quarterly earnings data on Thursday, March 8th. The industrial products company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03), Bloomberg Earnings reports. The company had revenue of $247.10 million during the quarter, compared to the consensus estimate of $249.00 million. TPI Composites had a net margin of 4.70% and a return on equity of 31.56%. The company’s revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. TPI Composites updated its FY18 guidance to $0.38-$0.42 EPS.
Shares of TPI Composites (NASDAQ TPIC) opened at $22.17 on Friday. TPI Composites has a 12-month low of $15.26 and a 12-month high of $26.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.93 and a current ratio of 1.34. The firm has a market cap of $771.53, a price-to-earnings ratio of 17.99 and a beta of -0.62.
A number of equities analysts recently issued reports on TPIC shares. BidaskClub upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Craig Hallum started coverage on shares of TPI Composites in a research report on Tuesday, January 16th. They set a “buy” rating and a $33.00 price objective for the company. Canaccord Genuity restated a “buy” rating and issued a $26.00 price target on shares of TPI Composites in a research report on Tuesday, March 6th. Zacks Investment Research cut shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Saturday, March 10th. Finally, ValuEngine cut shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $26.89.
In related news, Director Daniel G. Weiss sold 200,000 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $22.54, for a total transaction of $4,508,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Investors L. P. Angeleno II sold 50,426 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $22.91, for a total transaction of $1,155,259.66. Following the transaction, the insider now directly owns 2,880 shares in the company, valued at $65,980.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 350,426 shares of company stock valued at $7,898,260. 73.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in TPI Composites by 56.2% during the second quarter. California State Teachers Retirement System now owns 18,900 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 6,800 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in TPI Composites by 310.3% during the second quarter. The Manufacturers Life Insurance Company now owns 10,011 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 7,571 shares in the last quarter. Finally, State Street Corp boosted its stake in TPI Composites by 34.6% during the second quarter. State Street Corp now owns 107,389 shares of the industrial products company’s stock worth $1,984,000 after acquiring an additional 27,593 shares in the last quarter. 38.68% of the stock is currently owned by institutional investors and hedge funds.
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About TPI Composites
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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