PGT (PGTI) Releases Earnings Results, Beats Expectations By $0.01 EPS

PGT (PGTI) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.08. The company posted revenue of $100.20 million in the period, compared to analysts expectations of $99.17 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on PGT. PGT was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Mar 2, 2016. Shares were Reiterated by Dougherty & Company on Feb 26, 2016 to “Buy” and Lowered the Price Target to $ 12.50 from a previous price target of $13 .Shares were Reiterated by RBC Capital Mkts on Feb 26, 2016 to “Outperform” and Lowered the Price Target to $ 11 from a previous price target of $12 .

PGT opened for trading at $10.13 and hit $10.35 on the upside on Wednesday, eventually ending the session at $10.3, with a gain of 0.29% or 0.03 points. The heightened volatility saw the trading volume jump to 2,00,751 shares. Company has a market cap of $504 M.

In a different news, on Jan 7, 2016, Rodney Hershberger (Chairman and CEO) sold 28,480 shares at $10.89 per share price. According to the SEC, on Dec 9, 2015, Todd A Antonelli (Vice President) sold 145,000 shares at $11.34 per share price. On Oct 27, 2015, Bradley R West (Vice President and CFO) sold 20,000 shares at $14.01 per share price, according to the Form-4 filing with the securities and exchange commission.

PGT Inc. is a manufacturer and supplier of residential impact-resistant windows and doors. The Company’s impact-resistant products are marketed under WinGuard PremierVue PGT Architectural Systems and PGT Commercial Storefront System brand names combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris by maintaining their structural integrity and preventing penetration by impacting objects. The Company also manufactures non-impact resistant products in both aluminum and vinyl frames including its SpectraGuard line of products. The Company conducts business in the Southeastern United States Gulf Coast Coastal mid-Atlantic the Caribbean Central America and Canada.


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