PGT Innovations Inc (PGTI) Expected to Post Earnings of $0.26 Per Share

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Brokerages expect PGT Innovations Inc (NYSE:PGTI) to announce earnings per share of $0.26 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for PGT Innovations’ earnings. The highest EPS estimate is $0.30 and the lowest is $0.22. PGT Innovations reported earnings of $0.16 per share in the same quarter last year, which would suggest a positive year over year growth rate of 62.5%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, November 1st.

On average, analysts expect that PGT Innovations will report full year earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.04 to $1.11. For the next financial year, analysts anticipate that the business will post earnings of $1.30 per share, with EPS estimates ranging from $1.16 to $1.45. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover PGT Innovations.

PGT Innovations (NYSE:PGTI) last released its quarterly earnings data on Monday, July 30th. The construction company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. PGT Innovations had a net margin of 9.90% and a return on equity of 26.98%. The firm had revenue of $169.27 million for the quarter, compared to analyst estimates of $169.00 million. During the same period last year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year.

Several brokerages have recently commented on PGTI. ValuEngine upgraded shares of PGT Innovations from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Deutsche Bank began coverage on shares of PGT Innovations in a report on Friday, October 19th. They issued a “buy” rating and a $26.00 target price for the company. Jefferies Financial Group began coverage on shares of PGT Innovations in a report on Thursday, October 4th. They issued a “buy” rating and a $27.00 target price for the company. Wells Fargo & Co began coverage on shares of PGT Innovations in a report on Thursday, October 4th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, B. Riley increased their target price on shares of PGT Innovations from $20.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. PGT Innovations currently has an average rating of “Buy” and an average price target of $22.67.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in PGT Innovations during the third quarter worth about $238,000. Arizona State Retirement System increased its holdings in PGT Innovations by 14.9% during the third quarter. Arizona State Retirement System now owns 83,592 shares of the construction company’s stock worth $1,806,000 after buying an additional 10,838 shares during the last quarter. Columbus Circle Investors increased its holdings in PGT Innovations by 13.9% during the third quarter. Columbus Circle Investors now owns 181,356 shares of the construction company’s stock worth $3,917,000 after buying an additional 22,162 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in PGT Innovations during the third quarter worth about $5,208,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in PGT Innovations during the third quarter worth about $214,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

Shares of PGT Innovations stock traded up $0.67 during trading hours on Tuesday, reaching $20.10. The company’s stock had a trading volume of 817,770 shares, compared to its average volume of 615,980. PGT Innovations has a one year low of $13.05 and a one year high of $26.40. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. The company has a current ratio of 4.24, a quick ratio of 3.47 and a debt-to-equity ratio of 1.03.

About PGT Innovations

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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Earnings History and Estimates for PGT Innovations (NYSE:PGTI)

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