PGT Innovations (NYSE:PGTI) Posts Quarterly Earnings Results

PGT Innovations (NYSE:PGTI) released its quarterly earnings data on Thursday. The construction company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01, Morningstar.com reports. PGT Innovations had a net margin of 6.48% and a return on equity of 15.36%. The business had revenue of $199.00 million during the quarter, compared to the consensus estimate of $206.34 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue was up 17.6% on a year-over-year basis. PGT Innovations updated its FY19 guidance to $0.90-1.00 EPS.

Shares of NYSE:PGTI traded up $0.76 during trading on Friday, reaching $14.37. The company’s stock had a trading volume of 658,408 shares, compared to its average volume of 427,773. The company has a quick ratio of 2.28, a current ratio of 2.99 and a debt-to-equity ratio of 0.95. PGT Innovations has a 12 month low of $13.30 and a 12 month high of $26.40. The company’s 50 day moving average price is $16.26. The stock has a market cap of $794.11 million, a PE ratio of 12.72, a PEG ratio of 1.03 and a beta of 1.04.

In related news, Director Rodney Hershberger sold 23,690 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.13, for a total value of $358,429.70. Following the completion of the transaction, the director now owns 1,150,200 shares of the company’s stock, valued at approximately $17,402,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 59,025 shares of company stock valued at $923,460. 5.80% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in PGTI. Raymond James & Associates lifted its holdings in shares of PGT Innovations by 27.0% in the 4th quarter. Raymond James & Associates now owns 13,060 shares of the construction company’s stock valued at $207,000 after acquiring an additional 2,774 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of PGT Innovations by 61.6% in the 4th quarter. Advisor Group Inc. now owns 3,831 shares of the construction company’s stock valued at $62,000 after acquiring an additional 1,460 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of PGT Innovations by 10.7% in the 4th quarter. Northern Trust Corp now owns 721,492 shares of the construction company’s stock valued at $11,435,000 after acquiring an additional 69,787 shares during the last quarter. United Services Automobile Association lifted its holdings in shares of PGT Innovations by 29.6% in the 4th quarter. United Services Automobile Association now owns 14,790 shares of the construction company’s stock valued at $234,000 after acquiring an additional 3,379 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in shares of PGT Innovations in the 4th quarter valued at about $230,000. 87.81% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. ValuEngine downgraded shares of PGT Innovations from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of PGT Innovations from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Gabelli raised shares of PGT Innovations from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Friday. Finally, KeyCorp increased their price objective on shares of PGT Innovations from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $22.88.

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 for PGT Innovations (NYSE:PGTI)

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