PGT Innovations, Inc. (NYSE:PGTI – Get Rating) – Equities researchers at Jefferies Financial Group cut their Q2 2023 EPS estimates for PGT Innovations in a report released on Wednesday, December 14th. Jefferies Financial Group analyst P. Ng now anticipates that the construction company will post earnings of $0.58 per share for the quarter, down from their prior estimate of $0.61. The consensus estimate for PGT Innovations’ current full-year earnings is $1.93 per share. Jefferies Financial Group also issued estimates for PGT Innovations’ Q3 2023 earnings at $0.47 EPS and FY2023 earnings at $1.79 EPS.
PGT Innovations (NYSE:PGTI – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The construction company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $385.84 million during the quarter, compared to analysts’ expectations of $384.89 million. PGT Innovations had a return on equity of 20.66% and a net margin of 7.04%.
Other research analysts also recently issued research reports about the company. StockNews.com raised PGT Innovations from a “hold” rating to a “buy” rating in a report on Friday, October 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on PGT Innovations from $38.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. Finally, Truist Financial boosted their price objective on PGT Innovations to $27.00 in a report on Wednesday, November 16th.
PGT Innovations Price Performance
PGTI opened at $18.90 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.98 and a quick ratio of 2.40. The stock has a market capitalization of $1.13 billion, a P/E ratio of 11.12 and a beta of 1.30. The company’s 50 day simple moving average is $20.62 and its 200-day simple moving average is $20.19. PGT Innovations has a one year low of $15.42 and a one year high of $23.81.
Insiders Place Their Bets
In related news, Director Richard D. Feintuch purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, December 6th. The shares were bought at an average price of $18.18 per share, with a total value of $181,800.00. Following the purchase, the director now directly owns 116,993 shares in the company, valued at approximately $2,126,932.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard D. Feintuch purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The shares were acquired at an average cost of $18.18 per share, for a total transaction of $181,800.00. Following the transaction, the director now directly owns 116,993 shares of the company’s stock, valued at approximately $2,126,932.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rodney Hershberger sold 2,000 shares of PGT Innovations stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $21.61, for a total transaction of $43,220.00. Following the transaction, the director now directly owns 1,364,638 shares in the company, valued at approximately $29,489,827.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,000 shares of company stock valued at $294,320. Company insiders own 4.50% of the company’s stock.
Institutional Trading of PGT Innovations
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of PGT Innovations by 6.6% during the third quarter. BlackRock Inc. now owns 9,859,162 shares of the construction company’s stock worth $206,646,000 after purchasing an additional 610,447 shares during the period. Vanguard Group Inc. lifted its stake in PGT Innovations by 1.5% in the third quarter. Vanguard Group Inc. now owns 3,984,588 shares of the construction company’s stock valued at $83,518,000 after buying an additional 58,695 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of PGT Innovations by 2.7% in the second quarter. Lazard Asset Management LLC now owns 2,431,482 shares of the construction company’s stock valued at $40,459,000 after buying an additional 63,476 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of PGT Innovations by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,397,449 shares of the construction company’s stock worth $50,250,000 after acquiring an additional 21,948 shares during the period. Finally, State Street Corp lifted its position in PGT Innovations by 2.2% in the 2nd quarter. State Street Corp now owns 2,008,740 shares of the construction company’s stock valued at $33,425,000 after acquiring an additional 43,082 shares in the last quarter. Institutional investors and hedge funds own 88.69% of the company’s stock.
About PGT Innovations
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
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