PGT Innovations (NYSE:PGTI) Announces Earnings Results, Beats Estimates By $0.05 EPS

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

NYSE:PGTI opened at $18.16 on Friday. PGT Innovations has a fifty-two week low of $16.26 and a fifty-two week high of $25.82. 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 stock has a market capitalization of $1.11 billion, a PE ratio of 30.78 and a beta of 1.35. The business’s 50-day simple moving average is $18.64 and its 200-day simple moving average is $20.19.

In related news, Director Rodney Hershberger sold 2,000 shares of PGT Innovations stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $21.43, for a total value of $42,860.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Deborah L. Lapinska sold 5,000 shares of PGT Innovations stock in a transaction that occurred on Tuesday, March 1st. The shares were 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. 4.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGTI. Alliancebernstein L.P. lifted its position in shares of PGT Innovations by 0.9% during the 4th quarter. Alliancebernstein L.P. now owns 77,112 shares of the construction company’s stock valued at $1,734,000 after acquiring an additional 692 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of PGT Innovations by 44.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,318 shares of the construction company’s stock valued at $52,000 after acquiring an additional 712 shares during the period. Bank of Montreal Can lifted its position in shares of PGT Innovations by 4.6% during the 1st quarter. Bank of Montreal Can now owns 16,931 shares of the construction company’s stock valued at $336,000 after acquiring an additional 748 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of PGT Innovations by 11.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,481 shares of the construction company’s stock valued at $188,000 after acquiring an additional 1,056 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of PGT Innovations by 17.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,600 shares of the construction company’s stock valued at $202,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of PGT Innovations from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on PGT Innovations from $21.50 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. StockNews.com initiated coverage on PGT Innovations in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TheStreet cut PGT Innovations from a “b-” rating to a “c+” rating in a research report on Wednesday, April 13th.

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)

Receive News & Ratings for PGT Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PGT Innovations and related companies with MarketBeat.com's FREE daily email newsletter.