PGT Innovations Inc (NASDAQ:PGTI)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks, Inc. in a report issued on Tuesday.
A number of other equities research analysts also recently weighed in on PGTI. Royal Bank Of Canada restated a “buy” rating and set a $13.00 price target on shares of PGT Innovations in a research report on Monday, May 15th. TheStreet upgraded PGT Innovations from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. Raymond James Financial, Inc. downgraded PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Friday, August 4th. FBR & Co restated a “buy” rating and set a $15.00 price target (up previously from $13.00) on shares of PGT Innovations in a research report on Monday, August 21st. Finally, BidaskClub downgraded PGT Innovations from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.00.
Shares of PGT Innovations (NASDAQ PGTI) traded up 1.08% during midday trading on Tuesday, reaching $14.00. The company had a trading volume of 833,833 shares. The company has a 50 day moving average of $13.15 and a 200 day moving average of $11.82. PGT Innovations has a one year low of $9.50 and a one year high of $14.88. The company has a market capitalization of $694.43 million, a PE ratio of 25.04 and a beta of 0.93.
PGT Innovations (NASDAQ:PGTI) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. PGT Innovations had a return on equity of 28.98% and a net margin of 7.46%. The business had revenue of $137.38 million for the quarter, compared to the consensus estimate of $127.79 million. During the same quarter last year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts predict that PGT Innovations will post $0.60 EPS for the current fiscal year.
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In other news, Director Brett N. Milgrim sold 8,322 shares of PGT Innovations stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $13.33, for a total value of $110,932.26. Following the transaction, the director now owns 64,654 shares in the company, valued at $861,837.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard D. Feintuch sold 49,459 shares of PGT Innovations stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $13.19, for a total value of $652,364.21. Following the completion of the transaction, the director now owns 81,051 shares in the company, valued at approximately $1,069,062.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,675 shares of company stock worth $879,808. Company insiders own 6.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in shares of PGT Innovations by 12.2% in the second quarter. Lazard Asset Management LLC now owns 2,989,820 shares of the construction company’s stock worth $38,269,000 after buying an additional 325,137 shares during the period. Jennison Associates LLC increased its holdings in shares of PGT Innovations by 3.3% in the second quarter. Jennison Associates LLC now owns 2,744,075 shares of the construction company’s stock worth $35,124,000 after buying an additional 88,528 shares during the period. Vanguard Group Inc. increased its holdings in shares of PGT Innovations by 5.6% in the second quarter. Vanguard Group Inc. now owns 2,642,425 shares of the construction company’s stock worth $33,823,000 after buying an additional 139,011 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of PGT Innovations by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,452,270 shares of the construction company’s stock worth $31,388,000 after buying an additional 140,054 shares during the period. Finally, ACK Asset Management LLC purchased a new position in shares of PGT Innovations in the first quarter worth about $13,541,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.
About PGT Innovations
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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