FY2017 EPS Estimates for PGT Innovations Inc Cut by SunTrust Banks (PGTI)
PGT Innovations Inc (NASDAQ:PGTI) – Analysts at SunTrust Banks lowered their FY2017 EPS estimates for shares of PGT Innovations in a research note issued on Monday. SunTrust Banks analyst K. Hughes now expects that the construction company will earn $0.59 per share for the year, down from their prior estimate of $0.61. SunTrust Banks currently has a “Buy” rating on the stock.
A number of other brokerages have also recently commented on PGTI. BidaskClub raised shares of PGT Innovations from a “hold” rating to a “buy” rating in a report on Tuesday. KeyCorp reiterated a “hold” rating on shares of PGT Innovations in a research note on Tuesday, September 26th. FBR & Co reissued a “buy” rating and set a $15.00 target price (up previously from $13.00) on shares of PGT Innovations in a report on Monday, August 21st. Raymond James Financial, Inc. cut shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a report on Friday, August 4th. Finally, TheStreet upgraded PGT Innovations from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.00.
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Shares of PGT Innovations (NASDAQ:PGTI) opened at 14.90 on Wednesday. The firm has a market capitalization of $739.07 million, a P/E ratio of 26.65 and a beta of 0.93. The stock has a 50 day moving average of $13.72 and a 200-day moving average of $12.28. PGT Innovations has a 52-week low of $9.50 and a 52-week high of $15.05.
PGT Innovations (NASDAQ:PGTI) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. PGT Innovations had a net margin of 7.46% and a return on equity of 28.98%. The business had revenue of $137.38 million for the quarter, compared to analyst estimates of $127.79 million. During the same period last year, the firm earned $0.15 earnings per share. PGT Innovations’s revenue for the quarter was up 15.4% compared to the same quarter last year.
In other PGT Innovations news, Director Brett N. Milgrim sold 8,322 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $13.33, for a total value of $110,932.26. Following the completion of the sale, the director now owns 64,654 shares of the company’s stock, valued at $861,837.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Feintuch sold 49,459 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $13.19, for a total value of $652,364.21. Following the completion of the sale, the director now directly owns 81,051 shares of the company’s stock, valued at approximately $1,069,062.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,675 shares of company stock valued at $879,808. 6.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System raised its stake in shares of PGT Innovations by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the construction company’s stock worth $257,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of PGT Innovations by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 25,735 shares of the construction company’s stock worth $329,000 after acquiring an additional 200 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of PGT Innovations by 1.7% in the 2nd quarter. Texas Permanent School Fund now owns 36,083 shares of the construction company’s stock worth $462,000 after acquiring an additional 609 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of PGT Innovations by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 11,457 shares of the construction company’s stock valued at $123,000 after purchasing an additional 750 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of PGT Innovations by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 128,064 shares of the construction company’s stock valued at $1,639,000 after purchasing an additional 973 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.
PGT Innovations Company Profile
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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