Wall Street brokerages expect PGT Innovations Inc (NYSE:PGTI) to announce $174.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for PGT Innovations’ earnings, with the highest sales estimate coming in at $183.87 million and the lowest estimate coming in at $171.10 million. PGT Innovations posted sales of $134.10 million in the same quarter last year, which suggests a positive year over year growth rate of 30.5%. The firm is expected to report its next quarterly earnings report on Tuesday, February 19th.
On average, analysts expect that PGT Innovations will report full year sales of $682.11 million for the current financial year, with estimates ranging from $679.70 million to $686.00 million. For the next financial year, analysts expect that the business will report sales of $813.95 million, with estimates ranging from $802.72 million to $845.42 million. Zacks’ sales averages are an average based on a survey of analysts that cover PGT Innovations.
PGT Innovations (NYSE:PGTI) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.12. PGT Innovations had a return on equity of 25.71% and a net margin of 9.92%. The firm had revenue of $199.08 million during the quarter, compared to the consensus estimate of $165.62 million. During the same period last year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 56.9% on a year-over-year basis.
PGTI has been the subject of several recent research reports. ValuEngine downgraded PGT Innovations from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Wells Fargo & Co initiated coverage on PGT Innovations in a report on Thursday, October 4th. They set an “outperform” rating and a $25.00 price target for the company. Jefferies Financial Group assumed coverage on PGT Innovations in a report on Thursday, October 4th. They set a “buy” rating and a $27.00 price target for the company. Deutsche Bank assumed coverage on PGT Innovations in a report on Friday, October 19th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Zacks Investment Research downgraded PGT Innovations from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 15th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $22.78.
Shares of NYSE PGTI opened at $16.86 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.82 and a quick ratio of 2.16. PGT Innovations has a 1-year low of $14.50 and a 1-year high of $26.40. The firm has a market cap of $932.84 million, a P/E ratio of 27.64, a P/E/G ratio of 0.63 and a beta of 1.08.
In other PGT Innovations news, Director Rodney Hershberger sold 34,851 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $17.12, for a total value of $596,649.12. Following the completion of the sale, the director now owns 1,106,139 shares of the company’s stock, valued at $18,937,099.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard D. Feintuch sold 5,010 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $21.05, for a total value of $105,460.50. Following the completion of the sale, the director now directly owns 101,810 shares of the company’s stock, valued at approximately $2,143,100.50. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in PGTI. Greenwood Capital Associates LLC increased its position in PGT Innovations by 11.1% during the 3rd quarter. Greenwood Capital Associates LLC now owns 24,917 shares of the construction company’s stock worth $538,000 after purchasing an additional 2,495 shares in the last quarter. Rhumbline Advisers increased its position in PGT Innovations by 2.3% during the 3rd quarter. Rhumbline Advisers now owns 120,496 shares of the construction company’s stock worth $2,603,000 after purchasing an additional 2,696 shares in the last quarter. Louisiana State Employees Retirement System increased its position in PGT Innovations by 14.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 25,600 shares of the construction company’s stock worth $553,000 after purchasing an additional 3,200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in PGT Innovations by 30.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,826 shares of the construction company’s stock worth $299,000 after purchasing an additional 3,254 shares in the last quarter. Finally, Summit Global Investments increased its position in PGT Innovations by 10.4% during the 3rd quarter. Summit Global Investments now owns 35,000 shares of the construction company’s stock worth $756,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 88.34% of the company’s stock.
PGT Innovations Company Profile
PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.
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