PGT Innovations Inc (NYSE:PGTI) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,050,000 shares, an increase of 11.4% from the December 15th total of 1,840,000 shares. Approximately 3.7% of the company’s shares are short sold. Based on an average trading volume of 397,100 shares, the short-interest ratio is currently 5.2 days.
Shares of NYSE PGTI traded up $0.06 during midday trading on Thursday, hitting $15.95. 9,748 shares of the stock traded hands, compared to its average volume of 275,174. The firm has a 50-day moving average of $14.74 and a two-hundred day moving average of $15.75. The firm has a market capitalization of $887.17 million, a P/E ratio of 13.59, a PEG ratio of 1.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.83 and a current ratio of 3.56. PGT Innovations has a one year low of $13.30 and a one year high of $18.48.
PGT Innovations (NYSE:PGTI) last released its quarterly earnings results on Thursday, November 7th. The construction company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). PGT Innovations had a net margin of 6.69% and a return on equity of 13.67%. The firm had revenue of $197.82 million for the quarter, compared to the consensus estimate of $196.78 million. During the same period in the previous year, the company earned $0.38 earnings per share. PGT Innovations’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that PGT Innovations will post 0.81 earnings per share for the current fiscal year.
In other news, Director Rodney Hershberger sold 11,850 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $15.01, for a total value of $177,868.50. Following the completion of the sale, the director now owns 1,340,065 shares of the company’s stock, valued at approximately $20,114,375.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 35,318 shares of company stock valued at $557,332. 5.80% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in PGTI. Nuveen Asset Management LLC purchased a new position in shares of PGT Innovations in the 2nd quarter worth $18,168,000. Waddell & Reed Financial Inc. increased its position in PGT Innovations by 271.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,128,928 shares of the construction company’s stock valued at $18,876,000 after acquiring an additional 824,968 shares during the last quarter. 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. Marshall Wace North America L.P. bought a new position in PGT Innovations during the second quarter valued at $3,885,000. Finally, Marshall Wace LLP increased its position in PGT Innovations by 2,242.1% during the second quarter. Marshall Wace LLP now owns 181,863 shares of the construction company’s stock valued at $3,041,000 after acquiring an additional 174,098 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.
Several equities research analysts have commented on PGTI shares. ValuEngine downgraded PGT Innovations from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Zacks Investment Research raised shares of PGT Innovations from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. PGT Innovations has a consensus rating of “Buy” and an average price target of $21.50.
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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