PGT Innovations (PGTI) Issues Earnings Results, Beats Expectations By $0.12 EPS

PGT Innovations (NYSE:PGTI) issued its quarterly earnings data on Thursday. The construction company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12, MarketWatch Earnings reports. The business had revenue of $199.08 million for the quarter, compared to analysts’ expectations of $165.62 million. PGT Innovations had a return on equity of 26.98% and a net margin of 9.90%. The firm’s quarterly revenue was up 56.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. PGT Innovations updated its FY18 guidance to $1.13-1.19 EPS.

Shares of NYSE:PGTI traded up $3.07 on Thursday, hitting $23.33. The company’s stock had a trading volume of 2,581,239 shares, compared to its average volume of 626,090. PGT Innovations has a 1 year low of $13.05 and a 1 year high of $26.40. The stock has a market cap of $1.16 billion, a P/E ratio of 38.25, a PEG ratio of 1.04 and a beta of 0.88. The company has a quick ratio of 3.47, a current ratio of 4.24 and a debt-to-equity ratio of 1.03.

Several large investors have recently added to or reduced their stakes in the business. Alambic Investment Management L.P. raised its holdings in shares of PGT Innovations by 5.4% in the 2nd quarter. Alambic Investment Management L.P. now owns 49,200 shares of the construction company’s stock valued at $1,026,000 after acquiring an additional 2,500 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of 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 valued at $553,000 after buying an additional 3,200 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of PGT Innovations by 13.0% during the 3rd quarter. Texas Permanent School Fund now owns 36,439 shares of the construction company’s stock valued at $787,000 after buying an additional 4,184 shares in the last quarter. Northern Trust Corp raised its holdings in shares of PGT Innovations by 0.7% during the 1st quarter. Northern Trust Corp now owns 621,856 shares of the construction company’s stock valued at $11,598,000 after buying an additional 4,539 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of PGT Innovations by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 117,800 shares of the construction company’s stock valued at $2,456,000 after buying an additional 4,672 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on PGTI shares. ValuEngine raised PGT Innovations from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Deutsche Bank started coverage on PGT Innovations in a report on Friday, October 19th. They issued a “buy” rating and a $26.00 price target on the stock. Jefferies Financial Group started coverage on PGT Innovations in a report on Thursday, October 4th. They issued a “buy” rating and a $27.00 price target on the stock. Wells Fargo & Co started coverage on PGT Innovations in a report on Thursday, October 4th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, B. Riley raised their price target on PGT Innovations from $20.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.67.

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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Earnings History for PGT Innovations (NYSE:PGTI)

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