PGT Innovations (NYSE:PGTI) Issues Quarterly Earnings Results

PGT Innovations (NYSE:PGTIGet Rating) announced its quarterly earnings results on Thursday. The construction company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05, MarketWatch Earnings reports. The business had revenue of $358.66 million for the quarter, compared to analyst estimates of $336.25 million. PGT Innovations had a return on equity of 11.66% and a net margin of 2.70%. The company’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. PGT Innovations updated its FY 2022 guidance to EPS.

NYSE:PGTI opened at $18.16 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.10 and a quick ratio of 2.43. The business has a fifty day simple moving average of $18.64 and a two-hundred day simple moving average of $20.19. PGT Innovations has a 1 year low of $16.26 and a 1 year high of $25.82. The company has a market capitalization of $1.11 billion, a P/E ratio of 30.78 and a beta of 1.35.

In other news, Director Rodney Hershberger sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $21.43, for a total value of $42,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Deborah L. Lapinska sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $21.39, for a total value of $106,950.00. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

A number of large investors have recently bought and sold shares of PGTI. William Blair Investment Management LLC bought a new stake in PGT Innovations during the fourth quarter valued at $15,306,000. BlackRock Inc. lifted its stake in PGT Innovations by 3.7% during the fourth quarter. BlackRock Inc. now owns 9,337,524 shares of the construction company’s stock worth $210,002,000 after purchasing an additional 334,391 shares during the last quarter. State Street Corp lifted its stake in PGT Innovations by 6.1% during the fourth quarter. State Street Corp now owns 1,925,037 shares of the construction company’s stock worth $43,294,000 after purchasing an additional 111,476 shares during the last quarter. Morgan Stanley lifted its stake in PGT Innovations by 66.1% during the second quarter. Morgan Stanley now owns 257,905 shares of the construction company’s stock worth $5,991,000 after purchasing an additional 102,615 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in PGT Innovations by 2.3% during the first quarter. Vanguard Group Inc. now owns 3,866,921 shares of the construction company’s stock worth $69,528,000 after purchasing an additional 85,783 shares during the last quarter. 87.24% of the stock is owned by institutional investors.

Several research analysts have issued reports on the company. TheStreet lowered PGT Innovations from a “b-” rating to a “c+” rating in a report on Wednesday, April 13th. Zacks Investment Research raised PGT Innovations from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on PGT Innovations from $21.50 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 20th. Finally, StockNews.com assumed coverage on PGT Innovations in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

About PGT Innovations (Get Rating)

PGT Innovations, Inc, together with its subsidiaries manufactures and supplies impact-resistant aluminum frame windows and doors in the United States and internationally. The company provides heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact resistant vinyl windows with insulating glass and multi-chambered frames for various climate zones.

Further Reading

Earnings History for PGT Innovations (NYSE:PGTI)

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