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Stock Market & Financial Investment News

News Breaks
March 31, 2014
05:25 EDTPGTIPGT, Inc. downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded PGT, Inc. citing valuation and a lack of catalysts. The firm raised its price target for shares to $13 from $9.
News For PGTI From The Last 14 Days
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February 25, 2015
17:18 EDTPGTIPGT, Inc. sees Q1 revenue $90M-$93M, consensus $80.13M
The company said, "As we look into 2015, we anticipate our quarter over quarter growth to continue, both organically and through our CGI acquisition. For the first quarter of 2015, we anticipate consolidated sales will range between $90 and $93 million. In anticipation of this growth, we invested a lot in our third and fourth quarters of 2014 to expand both our assembly and glass capacity. While the cost to ramp up our capacity was at the high end of our estimates, we are confident the majority of our operational challenges are behind us. Through the first 7 weeks of our first quarter, direct labor and scrap have improved 0.3% and 1.0% of sales, respectively, compared to the fourth quarter. This in part helped improve our January consolidated gross margin to 32.3%. Given our current sales mix, and improved operational performance we anticipate Q1 gross margin to range from 31.5% to 33.0%. Lastly, in 2015 we are adding additional glass capacity, including a laminating line towards the end of the second quarter, which will allow us to fully realize our expected glass capacity related savings."
17:16 EDTPGTIPGT, Inc. reports Q4 adjusted EPS 8c, consensus 9c
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