Ply Gem Holdings, Inc. (PGEM) Issues Quarterly Earnings Results
Ply Gem Holdings, Inc. (NYSE:PGEM) issued its quarterly earnings results on Monday. The construction company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.03, MarketWatch Earnings reports. The business had revenue of $544.80 million during the quarter, compared to analyst estimates of $548.58 million. Ply Gem Holdings had a negative return on equity of 767.51% and a net margin of 5.14%. Ply Gem Holdings’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS.
Shares of Ply Gem Holdings (PGEM) traded down 3.956% on Tuesday, hitting $15.175. The stock had a trading volume of 22,901 shares. The firm’s 50-day moving average price is $17.66 and its 200 day moving average price is $17.82. Ply Gem Holdings has a 52-week low of $12.85 and a 52-week high of $20.00. The firm has a market cap of $1.04 billion, a PE ratio of 10.473 and a beta of 2.48.
Several brokerages have recently issued reports on PGEM. Royal Bank Of Canada restated a “buy” rating and issued a $22.00 price objective on shares of Ply Gem Holdings in a research note on Tuesday, April 11th. Zacks Investment Research upgraded Ply Gem Holdings from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, May 17th. BidaskClub upgraded Ply Gem Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Finally, J P Morgan Chase & Co reduced their price objective on Ply Gem Holdings from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ply Gem Holdings has a consensus rating of “Hold” and a consensus target price of $19.10.
Several hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its stake in shares of Ply Gem Holdings by 427.4% in the first quarter. Pzena Investment Management LLC now owns 947,914 shares of the construction company’s stock worth $18,674,000 after buying an additional 768,177 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Ply Gem Holdings by 50.0% in the first quarter. Renaissance Technologies LLC now owns 1,237,900 shares of the construction company’s stock worth $24,387,000 after buying an additional 412,500 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Ply Gem Holdings during the first quarter worth about $3,480,000. Vanguard Group Inc. boosted its stake in shares of Ply Gem Holdings by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,080,933 shares of the construction company’s stock worth $40,993,000 after buying an additional 146,869 shares during the period. Finally, James Investment Research Inc. purchased a new stake in shares of Ply Gem Holdings during the first quarter worth about $2,143,000. 29.51% of the stock is owned by hedge funds and other institutional investors.
About Ply Gem Holdings
Ply Gem Holdings, Inc is a manufacturer of exterior building products in North America. The Company operates through two segments: Siding, Fencing, and Stone, and Windows and Doors. In the Siding, Fencing, and Stone segment, its principal products include vinyl siding and skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC trim and moldings, J-channels, wide crown molding, window and door trim, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutters, vents and mounts, vinyl fence, vinyl railing and stone veneer in the United States and Canada.
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