PGT Innovations, Inc. (NYSE: PGTI) Expected to Post Quarterly Sales of $336.23 Million


Analysts expect PGT Innovations, Inc. (NYSE: PGTI – Get Rating) to report revenue of $336.23 million for the current fiscal quarter, according to Zacks. Four analysts provided earnings estimates for PGT Innovations. The highest sales estimate is $342.30 million and the lowest is $330.60 million. PGT Innovations reported sales of $271.09 million in the same quarter last year, indicating a positive year-over-year growth rate of 24%. The company is expected to announce its next results before the market opens on Monday, January 1.

On average, analysts expect PGT Innovations to report annual revenue of $1.41 billion for the current fiscal year, with estimates ranging from $1.40 billion to $1.41 billion. For the next fiscal year, analysts expect the company to record sales of $1.53 billion, with estimates ranging from $1.47 billion to $1.60 billion. Zacks sales calculations are an average based on a survey of analysts who follow PGT Innovations.

PGT Innovations (NYSE:PGTI – Get Rating) last released its quarterly results on Thursday, May 12. The construction company reported EPS of $0.42 for the quarter, beating consensus analyst estimates of $0.37 by $0.05. The company posted revenue of $358.66 million for the quarter, versus 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 increased by 32.3% compared to the same quarter last year. During the same period last year, the company earned earnings per share of $0.27.

A number of research analysts have recently published reports on the company. JPMorgan Chase & Co. lowered its price target on PGT Innovations from $21.50 to $19.00 and set a “neutral” rating on the stock in a Wednesday, April 20 report. Zacks Investment Research upgraded PGT Innovations from a “sell” rating to a “hold” rating in a report released Wednesday. StockNews.com picked up coverage from PGT Innovations in a Thursday, March 31 report. They have placed a “holding” rating on the stock. Finally, TheStreet downgraded PGT Innovations from a “b-” rating to a “c+” rating in a Wednesday, April 13 report.

In other news from PGT Innovations, Vice President Deborah L. Lapinska sold 5,000 shares of the company in a trade dated Tuesday, March 1. The stock was sold at an average price of $21.39, for a total transaction of $106,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Rodney Hershberger sold 2,000 shares of the company in a trade dated Tuesday, March 1. The stock was sold at an average price of $21.43, for a total value of $42,860.00. The disclosure of this sale can be found here. Insiders of the company hold 4.20% of the shares of the company.

Several institutional investors have recently changed their positions in PGTI. Wellington Management Group LLP increased its equity stake in PGT Innovations by 22.8% during Q3. Wellington Management Group LLP now owns 7,397,003 shares of the construction company valued at $141,284,000 after buying an additional 1,373,303 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of PGT Innovations by 106.7% in Q1. William Blair Investment Management LLC now owns 1,406,722 shares of the construction company valued at $25,293,000 after acquiring an additional 726,131 shares last quarter. Stadium Capital Management LLC increased its stake in the shares of PGT Innovations by 97.1% in the 4th quarter. Stadium Capital Management LLC now owns 916,272 shares of the construction company valued at $20,607,000 after acquiring an additional 451,499 shares last quarter. BlackRock Inc. increased its stake in shares of PGT Innovations by 3.7% in Q4. BlackRock Inc. now owns 9,337,524 shares of the construction company valued at $210,002,000 after acquiring 334,391 additional shares last quarter. Finally, Cooke & Bieler LP increased its stake in the shares of PGT Innovations by 8.3% in the 3rd quarter. Cooke & Bieler LP now owns 3,799,431 shares of the construction company valued at $72,569,000 after acquiring an additional 292,025 shares last quarter. Institutional investors and hedge funds own 87.24% of the company’s shares.

Shares of PGTI opened at $17.90 on Friday. The company has a market capitalization of $1.10 billion, a price/earnings ratio of 39.29 and a beta of 1.35. The company has a debt ratio of 1.18, a quick ratio of 2.43 and a current ratio of 3.10. PGT Innovations has a 1-year low of $16.26 and a 1-year high of $25.82. The stock’s fifty-day moving average is $18.79 and its 200-day moving average is $20.24.

About PGT Innovations (Get an evaluation)

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

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Sallie R. Loera