Zacks Investment Research upgraded shares of PGT Innovations (NYSE:PGTI) from a sell rating to a hold rating in a report released on Wednesday, Zacks.com reports. They currently have $20.00 price objective on the construction company’s stock.
According to Zacks, “PGT INDUSTRIES pioneered the U.S. impact-resistant window and door industry and today is the nation’s leading manufacturer and supplier of residential impact-resistant windows and doors. PGT is also one of the largest window and door manufacturers in the United States. The company’s total line of custom windows and doors is now available throughout the eastern United States, the Gulf Coast and in a growing international market, which includes the Caribbean, South America and Australia. PGT’s product line includes PGT Aluminum and Vinyl Windows and Doors; WinGuard Impact-Resistant Windows and Doors; PGT Architectural Systems; and Eze-Breeze Sliding Panels. PGT Industries is a wholly owned subsidiary of PGT, Inc. “
A number of other brokerages have also recently issued reports on PGTI. ValuEngine upgraded PGT Innovations from a hold rating to a buy rating in a research note on Wednesday. G.Research reiterated a buy rating on shares of PGT Innovations in a research note on Friday, August 2nd. Finally, Gabelli upgraded PGT Innovations from a hold rating to a buy rating and set a $22.00 price objective for the company in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $22.17.
Shares of NYSE:PGTI opened at $17.26 on Wednesday. The stock has a fifty day simple moving average of $16.23 and a two-hundred day simple moving average of $15.51. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.02 and a beta of 0.97. PGT Innovations has a 12-month low of $13.30 and a 12-month high of $24.16. The company has a current ratio of 2.99, a quick ratio of 2.40 and a debt-to-equity ratio of 0.95.
PGT Innovations (NYSE:PGTI) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $199.00 million during the quarter, compared to analysts’ expectations of $206.34 million. PGT Innovations had a return on equity of 15.36% and a net margin of 6.48%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. As a group, equities research analysts predict that PGT Innovations will post 0.93 EPS for the current year.
In other PGT Innovations news, VP Brent Boydston purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $28,000.00. Following the completion of the purchase, the vice president now directly owns 25,176 shares of the company’s stock, valued at $352,464. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rodney Hershberger sold 11,615 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $17.07, for a total value of $198,268.05. Following the completion of the transaction, the director now owns 1,260,260 shares of the company’s stock, valued at approximately $21,512,638.20. The disclosure for this sale can be found here. Insiders sold 47,415 shares of company stock valued at $729,675 in the last 90 days. Company insiders own 5.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of PGTI. Nuveen Asset Management LLC purchased a new position in shares of PGT Innovations in the second quarter worth $18,168,000. Rice Hall James & Associates LLC raised its stake in shares of PGT Innovations by 233.3% in the second quarter. Rice Hall James & Associates LLC now owns 1,218,343 shares of the construction company’s stock worth $20,371,000 after purchasing an additional 852,806 shares during the last quarter. Waddell & Reed Financial Inc. raised its stake in shares of PGT Innovations by 271.4% in the second quarter. Waddell & Reed Financial Inc. now owns 1,128,928 shares of the construction company’s stock worth $18,876,000 after purchasing an additional 824,968 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of PGT Innovations by 44.5% in the first quarter. Lazard Asset Management LLC now owns 1,810,192 shares of the construction company’s stock worth $25,071,000 after purchasing an additional 557,105 shares during the last quarter. Finally, Morgan Stanley increased its position in PGT Innovations by 1,194.9% during the second quarter. Morgan Stanley now owns 546,674 shares of the construction company’s stock valued at $9,140,000 after acquiring an additional 504,456 shares during the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.
About PGT Innovations
PGT Innovations, Inc manufactures and supplies impact-resistant residential windows and doors in the Southeastern United States, Western United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. It offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.
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