Zacks: Brokerages Anticipate PGT Innovations Inc (PGTI) Will Announce Quarterly Sales of $175.42 Million

Analysts expect PGT Innovations Inc (NYSE:PGTI) to report sales of $175.42 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for PGT Innovations’ earnings, with the highest sales estimate coming in at $183.87 million and the lowest estimate coming in at $171.10 million. PGT Innovations reported sales of $134.10 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 30.8%. The firm is expected to report its next quarterly earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that PGT Innovations will report full year sales of $682.37 million for the current fiscal year, with estimates ranging from $679.70 million to $686.00 million. For the next financial year, analysts expect that the company will post sales of $815.35 million, with estimates ranging from $805.00 million to $845.42 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover PGT Innovations.

PGT Innovations (NYSE:PGTI) last posted its earnings results on Thursday, November 1st. The construction company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. PGT Innovations had a net margin of 9.92% and a return on equity of 25.71%. The firm had revenue of $199.08 million during the quarter, compared to analyst estimates of $165.62 million. During the same period last year, the firm posted $0.16 earnings per share. PGT Innovations’s revenue for the quarter was up 56.9% compared to the same quarter last year.

PGTI has been the subject of a number of recent research reports. Deutsche Bank raised their target price on shares of PGT Innovations from $26.00 to $28.00 and gave the company a “buy” rating in a report on Monday, November 5th. Wells Fargo & Co initiated 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. ValuEngine lowered shares of PGT Innovations from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Zacks Investment Research lowered shares of PGT Innovations from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 15th. Finally, Jefferies Financial Group began coverage on shares of PGT Innovations in a research note on Thursday, October 4th. They set a “buy” rating and a $27.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.63.

In other PGT Innovations news, Director Richard D. Feintuch sold 5,010 shares of PGT Innovations stock in a transaction on Friday, November 9th. The shares were sold at an average price of $21.05, for a total transaction of $105,460.50. Following the completion of the transaction, the director now directly owns 101,810 shares of the company’s stock, valued at $2,143,100.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY bought a new stake in shares of PGT Innovations during the second quarter worth $138,000. Oppenheimer Asset Management Inc. bought a new stake in shares of PGT Innovations during the third quarter worth $214,000. Aperio Group LLC bought a new stake in shares of PGT Innovations during the second quarter worth $210,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of PGT Innovations during the second quarter worth $220,000. Finally, Acadian Asset Management LLC bought a new stake in shares of PGT Innovations during the third quarter worth $238,000. Institutional investors and hedge funds own 85.45% of the company’s stock.

PGTI stock opened at $18.89 on Friday. PGT Innovations has a fifty-two week low of $14.50 and a fifty-two week high of $26.40. The company has a quick ratio of 2.16, a current ratio of 2.82 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.11 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89.

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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