TPI Composites Inc (TPIC) Releases Earnings Results, Misses Expectations By $0.01 EPS

TPI Composites Inc (NASDAQ:TPIC) released its quarterly earnings data on Monday. The industrial products company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.01. The company had revenue of $191.60 million during the quarter, compared to the consensus estimate of $213.26 million. TPI Composites had a net margin of 3.68% and a negative return on equity of 24.14%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) EPS.

TPI Composites (NASDAQ:TPIC) traded up 1.175% during trading on Friday, reaching $15.935. 104,075 shares of the company’s stock were exchanged. TPI Composites has a 12 month low of $11.31 and a 12 month high of $23.30. The stock has a market cap of $522.65 million and a PE ratio of 31.870. The firm has a 50 day moving average of $18.66 and a 200-day moving average of $17.17.

In related news, Director Paul G. Giovacchini sold 1,245,348 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $16.35, for a total transaction of $20,361,439.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Element Partners Ii Intrafund sold 1,132,572 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $16.35, for a total value of $18,517,552.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,513,253 shares of company stock worth $41,091,687 over the last ninety days.

Several hedge funds and other institutional investors have recently made changes to their positions in TPIC. Monashee Investment Management LLC purchased a new position in shares of TPI Composites during the third quarter worth $282,000. DekaBank Deutsche Girozentrale purchased a new position in shares of TPI Composites during the third quarter worth $210,000. General Electric Co. purchased a new position in shares of TPI Composites during the third quarter worth $60,438,000. Spark Investment Management LLC purchased a new position in shares of TPI Composites during the third quarter worth $1,026,000. Finally, BOKF NA purchased a new position in shares of TPI Composites during the third quarter worth $850,000. 23.80% of the stock is currently owned by institutional investors and hedge funds.

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Several analysts have recently weighed in on the stock. Barclays PLC set a $23.00 price objective on shares of TPI Composites and gave the company a “buy” rating in a research note on Monday, May 8th. Zacks Investment Research upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $20.00 price objective on shares of TPI Composites in a research note on Monday, March 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.00.

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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