TPI Composites, Inc. (NASDAQ:TPIC - Free Report) - Analysts at Roth Capital dropped their Q2 2024 earnings per share (EPS) estimates for shares of TPI Composites in a research note issued to investors on Monday, May 6th. Roth Capital analyst J. Clare now expects that the industrial products company will earn ($1.00) per share for the quarter, down from their previous forecast of ($0.85). The consensus estimate for TPI Composites' current full-year earnings is ($1.60) per share. Roth Capital also issued estimates for TPI Composites' Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($2.76) EPS and FY2025 earnings at ($1.25) EPS.
A number of other research analysts have also recently commented on TPIC. Piper Sandler reaffirmed a "neutral" rating and set a $3.00 target price (down previously from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd. Roth Mkm boosted their price target on TPI Composites from $3.30 to $3.75 and gave the company a "neutral" rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.53.
Read Our Latest Research Report on TPI Composites
TPI Composites Stock Performance
TPIC stock traded down $0.18 during midday trading on Wednesday, reaching $3.85. 922,222 shares of the company traded hands, compared to its average volume of 1,181,332. The firm has a market capitalization of $182.76 million, a price-to-earnings ratio of -0.88 and a beta of 1.96. The business has a 50 day moving average of $2.89 and a 200-day moving average of $2.85. TPI Composites has a 52-week low of $1.63 and a 52-week high of $12.24.
TPI Composites (NASDAQ:TPIC - Get Free Report) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $1.18. The firm had revenue of $296.99 million during the quarter, compared to the consensus estimate of $340.91 million. During the same period last year, the firm posted ($0.73) earnings per share.
Hedge Funds Weigh In On TPI Composites
Large investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in TPI Composites in the 3rd quarter valued at $93,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in TPI Composites by 26.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 107,000 shares of the industrial products company's stock worth $284,000 after buying an additional 22,705 shares during the last quarter. Jump Financial LLC purchased a new stake in TPI Composites during the 3rd quarter worth approximately $79,000. Fox Run Management L.L.C. acquired a new position in shares of TPI Composites during the third quarter valued at approximately $94,000. Finally, Quantbot Technologies LP lifted its position in shares of TPI Composites by 76.7% in the third quarter. Quantbot Technologies LP now owns 37,734 shares of the industrial products company's stock valued at $100,000 after acquiring an additional 16,378 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.
About TPI Composites
(
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TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.
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