PGT (PGTI) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS
PGT (NASDAQ:PGTI) issued its quarterly earnings data on Tuesday. The company reported $0.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.20, ARN reports. The company had revenue of $81.60 million for the quarter, compared to the consensus estimate of $130.97 million.
PGTI has been the subject of a number of recent research reports. Analysts at RBC Capital cut their price target on shares of PGT from $13.00 to $11.00 in a research note on Friday, May 9th. On the ratings front, analysts at Deutsche Bank cut their price target on shares of PGT from $13.00 to $12.00 in a research note on Friday, May 9th. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of PGT in a research note on Thursday, May 8th. They now have a $13.50 price target on the stock, down previously from $14.00. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $12.36.
PGT (NASDAQ:PGTI) traded up 27.33% on Tuesday, hitting $9.41. 3,433,087 shares of the company’s stock traded hands. PGT has a one year low of $7.34 and a one year high of $12.61. The stock has a 50-day moving average of $8.39 and a 200-day moving average of $9.90. The company has a market cap of $444.5 million and a price-to-earnings ratio of 14.90. PGT also was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 1,810,315 shares, an increase of 55.9% from the June 30th total of 1,160,987 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily volume of 520,492 shares, the days-to-cover ratio is presently 3.5 days.
PGT, Inc is a manufacturer and supplier of residential impact-resistant windows and doors. The Company’s impact-resistant products are marketed under the WinGuard, PremierVue and PGT Architectural Systems brand names, and combine aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris by maintaining their structural integrity and preventing penetration by impacting objects.
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