Dougherty & Co Analysts Cut Earnings Estimates for PGT Innovations Inc (PGTI)

PGT Innovations Inc (NASDAQ:PGTI) – Equities researchers at Dougherty & Co reduced their Q3 2017 earnings per share (EPS) estimates for shares of PGT Innovations in a note issued to investors on Thursday. Dougherty & Co analyst J. Hamblin now expects that the construction company will earn $0.20 per share for the quarter, down from their prior estimate of $0.21. Dougherty & Co also issued estimates for PGT Innovations’ FY2017 earnings at $0.59 EPS and FY2018 earnings at $0.66 EPS.

PGTI has been the subject of a number of other reports. Royal Bank Of Canada reiterated a “buy” rating and set a $13.00 price target on shares of PGT Innovations in a report on Friday, May 5th. TheStreet upgraded shares of PGT Innovations from a “c+” rating to a “b-” rating in a report on Thursday, June 22nd. Raymond James Financial, Inc. lowered shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of PGT Innovations from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $13.00.

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Shares of PGT Innovations (NASDAQ:PGTI) opened at 12.90 on Friday. The firm has a market capitalization of $639.87 million, a P/E ratio of 23.08 and a beta of 0.93. PGT Innovations has a 52-week low of $9.50 and a 52-week high of $13.85. The company’s 50-day moving average price is $12.96 and its 200-day moving average price is $11.63.

PGT Innovations (NASDAQ:PGTI) last released its earnings results on Thursday, August 3rd. The construction company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. PGT Innovations had a return on equity of 8.95% and a net margin of 2.66%. The business had revenue of $137.38 million for the quarter, compared to the consensus estimate of $127.79 million. During the same period last year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year.

In other PGT Innovations news, Director Brett N. Milgrim sold 8,894 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $13.10, for a total value of $116,511.40. Following the completion of the transaction, the director now directly owns 55,760 shares in the company, valued at approximately $730,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brett N. Milgrim sold 8,322 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $13.33, for a total transaction of $110,932.26. Following the completion of the transaction, the director now owns 64,654 shares of the company’s stock, valued at $861,837.82. The disclosure for this sale can be found here. Insiders sold a total of 66,675 shares of company stock valued at $879,808 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of PGT Innovations during the second quarter valued at approximately $137,000. The Manufacturers Life Insurance Company raised its position in shares of PGT Innovations by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 39,331 shares of the construction company’s stock valued at $504,000 after buying an additional 1,278 shares during the period. State Street Corp raised its position in shares of PGT Innovations by 7.0% in the second quarter. State Street Corp now owns 1,151,849 shares of the construction company’s stock valued at $14,745,000 after buying an additional 75,132 shares during the period. Macquarie Group Ltd. raised its position in shares of PGT Innovations by 0.8% in the second quarter. Macquarie Group Ltd. now owns 128,064 shares of the construction company’s stock valued at $1,639,000 after buying an additional 973 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of PGT Innovations during the second quarter valued at approximately $2,041,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

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.