PGT Innovations Inc (NYSE:PGTI) – Equities research analysts at Jefferies Financial Group decreased their Q1 2019 earnings per share (EPS) estimates for shares of PGT Innovations in a note issued to investors on Wednesday, February 27th. Jefferies Financial Group analyst P. Ng now expects that the construction company will earn $0.13 per share for the quarter, down from their previous forecast of $0.21. Jefferies Financial Group also issued estimates for PGT Innovations’ Q2 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.34 EPS and Q4 2019 earnings at $0.21 EPS.
PGT Innovations (NYSE:PGTI) last posted its quarterly earnings data on Wednesday, February 27th. The construction company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. PGT Innovations had a return on equity of 25.71% and a net margin of 9.92%. The company had revenue of $189.89 million for the quarter, compared to the consensus estimate of $173.39 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s quarterly revenue was up 41.6% compared to the same quarter last year.
A number of other analysts have also recently weighed in on the company. ValuEngine cut PGT Innovations from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Deutsche Bank upped their price target on PGT Innovations from $26.00 to $28.00 and gave the company a “buy” rating in a report on Monday, November 5th. Zacks Investment Research cut PGT Innovations from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 15th. JPMorgan Chase & Co. started coverage on PGT Innovations in a research note on Tuesday, December 18th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Wells Fargo & Co downgraded PGT Innovations from an “outperform” rating to a “market perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. PGT Innovations has a consensus rating of “Hold” and a consensus target price of $21.23.
Shares of NYSE PGTI opened at $15.08 on Friday. PGT Innovations has a 52-week low of $13.94 and a 52-week high of $26.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.16 and a current ratio of 2.82. The firm has a market capitalization of $1.03 billion, a P/E ratio of 24.72, a P/E/G ratio of 0.70 and a beta of 1.10.
Several institutional investors have recently modified their holdings of PGTI. Legal & General Group Plc raised its holdings in shares of PGT Innovations by 24.5% during the third quarter. Legal & General Group Plc now owns 122,322 shares of the construction company’s stock valued at $2,637,000 after purchasing an additional 24,032 shares during the period. Bank of Montreal Can grew its position in shares of PGT Innovations by 21.0% during the 3rd quarter. Bank of Montreal Can now owns 81,502 shares of the construction company’s stock valued at $1,760,000 after acquiring an additional 14,167 shares during the period. Summit Global Investments grew its position in shares of PGT Innovations by 10.4% during the 3rd quarter. Summit Global Investments now owns 35,000 shares of the construction company’s stock valued at $756,000 after acquiring an additional 3,300 shares during the period. Logan Capital Management Inc. purchased a new stake in shares of PGT Innovations during the 3rd quarter valued at approximately $2,290,000. Finally, Greenwood Capital Associates LLC lifted its stake in shares of PGT Innovations by 11.1% during the 3rd quarter. Greenwood Capital Associates LLC now owns 24,917 shares of the construction company’s stock valued at $538,000 after buying an additional 2,495 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.
In related news, Director Rodney Hershberger sold 34,851 shares of PGT Innovations stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $17.12, for a total value of $596,649.12. Following the transaction, the director now directly owns 1,106,139 shares of the company’s stock, valued at $18,937,099.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is currently owned by insiders.
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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