Wall Street brokerages expect that PGT Innovations Inc (NYSE:PGTI) will post sales of $118.85 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for PGT Innovations’ earnings, with estimates ranging from $118.26 million to $119.90 million. PGT Innovations posted sales of $109.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.5%. The company is expected to announce its next earnings results before the market opens on Tuesday, February 20th.
On average, analysts expect that PGT Innovations will report full-year sales of $118.85 million for the current financial year, with estimates ranging from $495.00 million to $496.90 million. For the next year, analysts anticipate that the company will report sales of $543.28 million per share, with estimates ranging from $530.00 million to $554.43 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PGT Innovations.
A number of research firms have recently commented on PGTI. B. Riley raised their price objective on shares of PGT Innovations from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Dougherty & Co reiterated a “buy” rating and set a $19.00 target price (up from $18.00) on shares of PGT Innovations in a research report on Thursday. Royal Bank of Canada reiterated a “buy” rating and set a $17.00 target price on shares of PGT Innovations in a research report on Wednesday, November 15th. Finally, BidaskClub lowered shares of PGT Innovations from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.25.
In other PGT Innovations news, Director William J. Morgan sold 41,395 shares of PGT Innovations stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $15.71, for a total transaction of $650,315.45. Following the completion of the sale, the director now directly owns 75,508 shares in the company, valued at $1,186,230.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard D. Feintuch sold 50,000 shares of PGT Innovations stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $16.05, for a total transaction of $802,500.00. Following the sale, the director now owns 75,508 shares of the company’s stock, valued at $1,211,903.40. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. HAP Trading LLC lifted its position in PGT Innovations by 180.2% during the fourth quarter. HAP Trading LLC now owns 57,830 shares of the construction company’s stock valued at $974,000 after purchasing an additional 37,191 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of PGT Innovations by 3.0% in the 4th quarter. Royce & Associates LP now owns 1,294,048 shares of the construction company’s stock worth $21,805,000 after acquiring an additional 38,000 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PGT Innovations by 5.5% in the 4th quarter. BlackRock Inc. now owns 7,310,563 shares of the construction company’s stock worth $123,183,000 after acquiring an additional 383,418 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of PGT Innovations by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 535,548 shares of the construction company’s stock worth $9,024,000 after acquiring an additional 13,881 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of PGT Innovations by 19.2% in the 4th quarter. Rhumbline Advisers now owns 110,594 shares of the construction company’s stock worth $1,864,000 after acquiring an additional 17,777 shares during the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.
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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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