TPI Composites (NASDAQ:TPIC – Get Rating) issued its quarterly earnings results on Thursday. The industrial products company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.19, MarketWatch Earnings reports. TPI Composites had a negative return on equity of 71.53% and a negative net margin of 9.21%. The firm had revenue of $384.90 million during the quarter, compared to the consensus estimate of $392.92 million. During the same period last year, the business posted ($0.05) EPS. The business’s revenue was down 4.9% compared to the same quarter last year.
NASDAQ:TPIC traded down $0.10 on Friday, hitting $12.26. The stock had a trading volume of 1,914,005 shares, compared to its average volume of 582,865. TPI Composites has a 1 year low of $9.23 and a 1 year high of $51.79. The firm’s fifty day simple moving average is $13.45 and its two-hundred day simple moving average is $16.18. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.07.
A number of analysts have weighed in on the company. StockNews.com assumed coverage on TPI Composites in a report on Thursday, March 31st. They set a “sell” rating for the company. Roth Capital upgraded TPI Composites from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $16.00 in a report on Friday. Piper Sandler cut their price objective on shares of TPI Composites from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 14th. JPMorgan Chase & Co. cut their price objective on shares of TPI Composites from $33.00 to $27.00 in a research report on Thursday, January 20th. Finally, Zacks Investment Research raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Wednesday, March 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TPI Composites has a consensus rating of “Hold” and an average target price of $27.62.
About TPI Composites (Get Rating)
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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