PGT Innovations Inc (PGTI) Releases Earnings Results, Misses Expectations By $0.03 EPS
PGT Innovations Inc (NASDAQ:PGTI) announced its earnings results on Thursday. The construction company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03), Bloomberg Earnings reports. The company had revenue of $126.90 million for the quarter, compared to the consensus estimate of $129.82 million. PGT Innovations had a net margin of 7.46% and a return on equity of 28.98%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS.
Shares of PGT Innovations (NASDAQ:PGTI) traded down $0.05 during midday trading on Friday, reaching $14.05. 884,239 shares of the company were exchanged.
In related news, Director Brett N. Milgrim sold 8,894 shares of PGT Innovations stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $13.10, for a total transaction of $116,511.40. Following the completion of the transaction, the director now directly owns 55,760 shares of the company’s stock, valued at approximately $730,456. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brett N. Milgrim sold 8,322 shares of PGT Innovations stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $13.33, for a total transaction of $110,932.26. Following the transaction, the director now directly owns 64,654 shares of the company’s stock, valued at $861,837.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,675 shares of company stock valued at $879,808. 6.50% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on the stock. Dougherty & Co raised shares of PGT Innovations from a “neutral” rating to a “buy” rating in a research note on Friday. BidaskClub lowered shares of PGT Innovations from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. KeyCorp reaffirmed a “hold” rating on shares of PGT Innovations in a research note on Tuesday, September 26th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of PGT Innovations in a research note on Tuesday, September 12th. Finally, FBR & Co reaffirmed a “buy” rating and set a $15.00 target price (up previously from $13.00) on shares of PGT Innovations in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.00.
PGT Innovations Company Profile
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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