PGT Innovations Inc (PGTI) Posts Earnings Results, Misses Expectations By $0.03 EPS
PGT Innovations Inc (NASDAQ:PGTI) released its quarterly earnings results on Thursday. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03), Bloomberg Earnings reports. PGT Innovations had a net margin of 7.46% and a return on equity of 28.98%. The firm had revenue of $126.90 million for the quarter, compared to analyst estimates of $129.82 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year.
In related news, Director Brett N. Milgrim sold 8,322 shares of PGT Innovations stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $13.33, for a total transaction of $110,932.26. Following the transaction, the director now owns 64,654 shares of the company’s stock, valued at approximately $861,837.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brett N. Milgrim sold 8,894 shares of PGT Innovations stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $13.10, for a total transaction of $116,511.40. Following the transaction, the director now directly owns 55,760 shares in the company, valued at approximately $730,456. The disclosure for this sale can be found here. Insiders have sold a total of 66,675 shares of company stock worth $879,808 in the last three months. 6.50% of the stock is owned by insiders.
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A number of equities research analysts have recently issued reports on PGTI shares. Raymond James Financial, Inc. lowered shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a report on Friday, August 4th. FBR & Co restated a “buy” rating and set a $15.00 price target (up previously from $13.00) on shares of PGT Innovations in a report on Monday, August 21st. BidaskClub lowered shares of PGT Innovations from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. SunTrust Banks, Inc. restated a “buy” rating on shares of PGT Innovations in a report on Tuesday, September 12th. Finally, KeyCorp restated a “hold” rating on shares of PGT Innovations in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.
About PGT Innovations
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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