PGT Innovations Inc (NYSE:PGTI) Expected to Post Quarterly Sales of $205.48 Million

Brokerages predict that PGT Innovations Inc (NYSE:PGTI) will post $205.48 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for PGT Innovations’ earnings. The lowest sales estimate is $193.00 million and the highest is $216.60 million. PGT Innovations reported sales of $199.08 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The business is expected to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that PGT Innovations will report full year sales of $767.80 million for the current year, with estimates ranging from $740.00 million to $792.40 million. For the next fiscal year, analysts anticipate that the company will post sales of $812.16 million, with estimates ranging from $774.00 million to $839.47 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow PGT Innovations.

PGT Innovations (NYSE:PGTI) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. PGT Innovations had a return on equity of 15.36% and a net margin of 6.48%. The company had revenue of $199.00 million during the quarter, compared to analyst estimates of $206.34 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis.

A number of research analysts recently weighed in on PGTI shares. ValuEngine lowered PGT Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Gabelli raised PGT Innovations from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, August 2nd. Zacks Investment Research lowered PGT Innovations from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, KeyCorp lifted their target price on PGT Innovations from $20.00 to $22.00 and gave the stock 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 assigned a buy rating to the company. PGT Innovations presently has an average rating of “Hold” and a consensus price target of $22.88.

PGTI stock traded down $0.19 on Friday, reaching $14.14. 19,010 shares of the company traded hands, compared to its average volume of 444,915. PGT Innovations has a one year low of $13.30 and a one year high of $26.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.40 and a current ratio of 2.99. The company has a market cap of $838.45 million, a P/E ratio of 12.00, a P/E/G ratio of 1.11 and a beta of 1.04. The firm’s fifty day simple moving average is $16.13.

In other PGT Innovations news, Director Rodney Hershberger sold 11,830 shares of PGT Innovations stock in a transaction on Monday, July 15th. The stock was sold at an average price of $16.29, for a total value of $192,710.70. Following the completion of the sale, the director now owns 1,207,630 shares of the company’s stock, valued at approximately $19,672,292.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 59,025 shares of company stock valued at $923,460. Corporate insiders own 4.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. AlphaOne Investment Services LLC purchased a new position in shares of PGT Innovations in the 1st quarter worth $46,000. Advisor Group Inc. boosted its stake 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 worth $62,000 after buying an additional 1,460 shares during the last quarter. Quantamental Technologies LLC boosted its stake in shares of PGT Innovations by 54.2% in the 1st quarter. Quantamental Technologies LLC now owns 9,109 shares of the construction company’s stock worth $126,000 after buying an additional 3,201 shares during the last quarter. Creative Planning purchased a new position in shares of PGT Innovations in the 2nd quarter worth $173,000. Finally, NumerixS Investment Technologies Inc boosted its stake in shares of PGT Innovations by 48.7% in the 1st quarter. NumerixS Investment Technologies Inc now owns 10,426 shares of the construction company’s stock worth $146,000 after buying an additional 3,413 shares during the last quarter. Hedge funds and other institutional investors own 88.33% of the company’s stock.

About PGT Innovations

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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