We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PGT Innovations' (PGTI) New Florida Showroom to Drive Sales
Read MoreHide Full Article
PGT Innovations, Inc. unveiled its latest 1,920 square foot multi-brand showroom in its own manufacturing facility located at 3780 W. 104th St. in Hialeah, FL.
The showroom showcases more than 20 products from its window and door brands, including CGI, CGI Commercial, PGT Custom Windows and Doors, WinDoor, along with Western Window Systems. The company believes that this visual representation of products will help dealers and homeowners to envision transformation of their own projects or homes.
PGT Innovations, the nation’s leading impact-resistant windows and doors manufacturer and supplier, banks on innovation and expansion to drive growth. The company is dedicated toward designing and engineering new and innovative products that transform the way people live, thereby helping the company to generating higher revenues.
In a bid to enhance its presence and innovation, the company acquired Western Windows Systems or WWS in early 2018. The WWS buyout allowed it to boost overall performance, and achieve geographic and product diversity.
In first-quarter 2019, the company’s net sales increased 24% year over year. Notably, its gross and adjusted EBITDA margins grew 340 basis points (bps) and 80 bps, respectively. The improvement was mainly driven by 18.5% contribution from the WWS acquisition, and price increases and operating efficiencies.
Markedly, during the said quarter, the company launched the Western 3700 series vinyl door, as part of innovation.
Coming to price performance, shares of PGT Innovations have declined 0.2% against its industry’s 25.3% growth on a year-to-date basis. The company has been witnessing softness in the repair and remodeling market over the last few quarters. Also, it is experiencing lower demand in a few markets served.
Nonetheless, the company remains confident to deliver improved results going forward, backed by improving overall construction market and the WWS acquisition. PGT Innovations expects to generate net sales growth of 11-15% year over year in 2019. Also, it projects adjusted EBITDA in the range of 13-20% and earnings within 93 cents to $1.05 per share.
Arcosa, Construction Partners and TopBuild have a three-five year earnings growth rate of 12.6%, 10%, and 28%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
PGT Innovations' (PGTI) New Florida Showroom to Drive Sales
PGT Innovations, Inc. unveiled its latest 1,920 square foot multi-brand showroom in its own manufacturing facility located at 3780 W. 104th St. in Hialeah, FL.
.jpg)
The showroom showcases more than 20 products from its window and door brands, including CGI, CGI Commercial, PGT Custom Windows and Doors, WinDoor, along with Western Window Systems. The company believes that this visual representation of products will help dealers and homeowners to envision transformation of their own projects or homes.
PGT Innovations, the nation’s leading impact-resistant windows and doors manufacturer and supplier, banks on innovation and expansion to drive growth. The company is dedicated toward designing and engineering new and innovative products that transform the way people live, thereby helping the company to generating higher revenues.
In a bid to enhance its presence and innovation, the company acquired Western Windows Systems or WWS in early 2018. The WWS buyout allowed it to boost overall performance, and achieve geographic and product diversity.
In first-quarter 2019, the company’s net sales increased 24% year over year. Notably, its gross and adjusted EBITDA margins grew 340 basis points (bps) and 80 bps, respectively. The improvement was mainly driven by 18.5% contribution from the WWS acquisition, and price increases and operating efficiencies.
Markedly, during the said quarter, the company launched the Western 3700 series vinyl door, as part of innovation.
Coming to price performance, shares of PGT Innovations have declined 0.2% against its industry’s 25.3% growth on a year-to-date basis. The company has been witnessing softness in the repair and remodeling market over the last few quarters. Also, it is experiencing lower demand in a few markets served.
Nonetheless, the company remains confident to deliver improved results going forward, backed by improving overall construction market and the WWS acquisition. PGT Innovations expects to generate net sales growth of 11-15% year over year in 2019. Also, it projects adjusted EBITDA in the range of 13-20% and earnings within 93 cents to $1.05 per share.
Zacks Rank & Key Picks
Currently, PGT Innovations carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Arcosa, Inc. (ACA - Free Report) , Construction Partners, Inc. (ROAD - Free Report) and TopBuild Corp. (BLD - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arcosa, Construction Partners and TopBuild have a three-five year earnings growth rate of 12.6%, 10%, and 28%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>