PGT shares soared 22% in the last trading session to close at $31.95. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.6% loss over the past four weeks.
The stock gained on the news reported by Reuters that the company declined the $1.9 billion acquisition offer from Miter Brands, which it deemed inadequate.
This maker of windows and doors is expected to post quarterly earnings of $0.60 per share in its upcoming report, which represents a year-over-year change of +9.1%. Revenues are expected to be $395.79 million, up 2.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For PGT, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PGTI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PGT is a member of the Zacks Building Products - Miscellaneous industry. One other stock in the same industry, Latham Group (SWIM - Free Report) , finished the last trading session 5.7% higher at $2.58. SWIM has returned -18.7% over the past month.
For Latham Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.14. This represents a change of +40% from what the company reported a year ago. Latham Group currently has a Zacks Rank of #3 (Hold).
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
PGT shares soared 22% in the last trading session to close at $31.95. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.6% loss over the past four weeks.
The stock gained on the news reported by Reuters that the company declined the $1.9 billion acquisition offer from Miter Brands, which it deemed inadequate.
This maker of windows and doors is expected to post quarterly earnings of $0.60 per share in its upcoming report, which represents a year-over-year change of +9.1%. Revenues are expected to be $395.79 million, up 2.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For PGT, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PGTI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PGT is a member of the Zacks Building Products - Miscellaneous industry. One other stock in the same industry, Latham Group (SWIM - Free Report) , finished the last trading session 5.7% higher at $2.58. SWIM has returned -18.7% over the past month.
For Latham Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.14. This represents a change of +40% from what the company reported a year ago. Latham Group currently has a Zacks Rank of #3 (Hold).
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Get the latest research report on SWIM - FREE