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PGT Innovations Hits 52-Week High: What's Driving the Stock?

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PGT Innovations, Inc. (PGTI - Free Report) shares attained a 52-week high of $19.55 during intraday trading on Mar 2, finally closing lower at $19.30. In fact, the shares have notched up 69% following its upbeat fourth-quarter fiscal 2017 results on Feb 20.
The company has a market capitalization of $958 million. Average volume of shares traded in the last three months was approximately 343k.
What's Driving PGT Innovations?
In fourth-quarter 2017, PGT Innovations delivered an 80% year-over-year improvement in earnings to 18 cents per share while net sales grew 22.5% to $134 million. Both beat the Zacks Consensus Estimate.
Given its leading market position, highly-innovative product offerings, and increased advertising, PGT Innovations is set to capitalize on increased demand for impact-resistant products stemming from heightened, post-Irma awareness. The company is likely to deliver improved performance in 2018 by following its strategy of profitable growth and disciplined capital allocation.
It has provided net sales guidance range of $550-$575 million, reflecting an increase of 8-13% over the past year. Adjusted EBITDA is likely to lie between $95 million and $105 million, exhibiting an increase of 10-22%. Earnings per share will range between 81 cents and 98 cents. The company had reported adjusted earnings per share of 61 cents in 2017.
The company has outperformed the industry in the past year. Shares of PGT Innovations surged 90% while the industry registered growth of 11%.
Estimates for the company have moved up in the past 30 days, reflecting the optimistic outlook of analysts. The earnings estimate for fiscal 2018 has gone up 18% while that of fiscal 2019 has moved up 20%.
PGT Innovations currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the sector include United Rentals, Inc. (URI - Free Report) , Boise Cascade Company (BCC - Free Report) and MasTec, Inc. (MTZ - Free Report) . All these stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Boise Cascade has an expected long-term earnings growth rate of 18.5%. Its shares have gone up 41% in the past year.
MasTec has an expected long-term earnings growth rate of 14.0%. Its shares have gone up 22% in the past year.
United Rentals has an expected long-term earnings growth rate of 18.5%. Its shares have advanced 36% over a year’s time.
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PGT, Inc. (PGTI) - free report >>

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Boise Cascade, L.L.C. (BCC) - free report >>

MasTec, Inc. (MTZ) - free report >>

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