BRIEF-G-Resources Group Says Unit Disposed 3.1 Mln Zhongan Shares For US$13.1 Mln

kokobob.com
On Jul 7, Zacks Investment Research upgraded PGT, Inc. PGTI to a Zacks Rank #1 (Strong Buy). Why the Upgrade? Share price of PGT continues to trend higher on the back of anticipated benefits from demand in the repair and remodeling market, strategic acquisitions, expansion of its product offerings and productivity improvement. PGT posted adjusted earnings of 14 cents per share in the first quarter of 2015, which doubled from the prior-year quarter’s earnings of 7 cents. Sales also improved around 52% year over year to $95.3 million due to rise in demand and contribution from the CGI acquisition. For the second quarter of 2015, the company guided sales in the range of $99 million to $102 million based on both organic growth and benefit from the CGI acquisition along with continuous investment in increasing capacity. PGT expects gross margin in the band of 32% to 33% for the second quarter driven by current sales mix and improved operational performance. Single family housing starts in Florida in the first quarter were approximately 13,300, up 4% from the year-ago quarter. PGT believes that Florida’s economy and population will continue to grow and over time reach the historical average of approximately 110,000 annually. Moreover, the company’s improved operational performance and the new glass plant will aid margin growth. PGT is looking forward to the completion of the second phase of the glass plant expansion in third-quarter 2015. Notably, PGT’s acquisition of CGI presents an exceptional opportunity for the company. The buyout will help PGT to diversify and broaden its product portfolio while expanding its manufacturing footprint and providing synergies by maximizing efficiencies and scale. Moreover, the CGI acquisition, combined with the launch of its new vinyl WinGuard and EnergyVue products in first-quarter 2015 will help PGT to benefit from the rebounding housing market and recovery in new housing construction in its primary markets of Florida. The Zacks Consensus Estimate for PGT has moved north over the last 30 days, rising 11% to $3.02 for fiscal 2015 and 7% to $3.30 for fiscal 2016. Other Stocks That Warrant a Look Other players in the same industry that warrant a look are Quanex Building Products Corporation NX, Owens Corning OC) and Aspen Aerogels, Inc. ASPN. While Quanex Building and Owens Corning sport the same rank as PGT, Aspen carries a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QUANEX BLDG PRD (NX): Free Stock Analysis Report PGT INC (PGTI): Free Stock Analysis Report OWENS CORNING (OC): Free Stock Analysis Report ASPEN AEROGELS (ASPN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments
Finding Common Denominators in JavaScript: A Comprehensive Guide
Learn how to find common denominators for fractions in JavaScript with step-by-step guidance and example code snippets.