PGT Innovations Inc (PGTI) Expected to Post Quarterly Sales of $175.70 Million

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Equities analysts predict that PGT Innovations Inc (NYSE:PGTI) will report sales of $175.70 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for PGT Innovations’ earnings. The lowest sales estimate is $169.80 million and the highest is $184.00 million. PGT Innovations reported sales of $140.25 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.3%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, May 2nd.

On average, analysts expect that PGT Innovations will report full-year sales of $788.70 million for the current year, with estimates ranging from $783.80 million to $799.07 million. For the next financial year, analysts forecast that the firm will post sales of $833.11 million, with estimates ranging from $817.60 million to $860.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for PGT Innovations.

PGT Innovations (NYSE:PGTI) last announced its quarterly earnings results on Wednesday, February 27th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $189.89 million during the quarter, compared to the consensus estimate of $173.39 million. PGT Innovations had a net margin of 7.72% and a return on equity of 22.09%. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of PGT Innovations from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Zacks Investment Research upgraded shares of PGT Innovations from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, January 15th. JPMorgan Chase & Co. initiated coverage on shares of PGT Innovations in a research note on Tuesday, December 18th. They issued a “neutral” rating and a $19.00 price objective on the stock. Wells Fargo & Co cut shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Finally, Dougherty & Co reissued a “buy” rating and issued a $22.00 price objective (down previously from $27.00) on shares of PGT Innovations in a research note on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.75.

Shares of NYSE:PGTI traded up $0.05 during trading on Friday, hitting $14.47. 430,408 shares of the company were exchanged, compared to its average volume of 559,253. The company has a market capitalization of $837.51 million, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.73 and a beta of 1.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.20 and a current ratio of 2.85. PGT Innovations has a 1-year low of $13.35 and a 1-year high of $26.40.

In other news, Director Richard D. Feintuch purchased 4,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average price of $14.54 per share, with a total value of $58,160.00. Following the completion of the transaction, the director now owns 98,300 shares of the company’s stock, valued at approximately $1,429,282. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey T. Jackson purchased 3,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $43,050.00. The disclosure for this purchase can be found here. Insiders own 5.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of PGT Innovations by 2.3% in the 3rd quarter. Rhumbline Advisers now owns 120,496 shares of the construction company’s stock worth $2,603,000 after acquiring an additional 2,696 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of PGT Innovations by 30.8% in 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 acquiring an additional 3,254 shares during the last quarter. Alliancebernstein L.P. increased its stake in PGT Innovations by 5.9% in the 3rd quarter. Alliancebernstein L.P. now owns 62,500 shares of the construction company’s stock valued at $1,350,000 after buying an additional 3,500 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in PGT Innovations in the 3rd quarter valued at about $1,475,000. Finally, Bank of New York Mellon Corp increased its stake in PGT Innovations by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 858,802 shares of the construction company’s stock valued at $18,550,000 after buying an additional 99,818 shares during the last quarter. 92.58% of the stock is currently owned by institutional investors and hedge funds.

PGT Innovations Company Profile

PGT Innovations, Inc manufactures and supplies impact-resistant residential windows and doors in the Southeastern United States, Western United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. It 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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