PGT Innovations (PGTI) Upgraded at ValuEngine

PGT Innovations (NYSE:PGTI) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Monday, April 1st, ValuEngine reports.

PGTI has been the topic of several other research reports. Zacks Investment Research raised shares of PGT Innovations from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, January 15th. JPMorgan Chase & Co. began coverage on shares of PGT Innovations in a research note on Tuesday, December 18th. They set a “neutral” rating and a $19.00 price objective on the stock. Wells Fargo & Co lowered shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Finally, Dougherty & Co restated a “buy” rating and set a $22.00 target price (down from $27.00) on shares of PGT Innovations in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $23.75.

Shares of PGTI stock traded up $0.06 during mid-day trading on Monday, reaching $14.61. The company’s stock had a trading volume of 334,300 shares, compared to its average volume of 539,509. The stock has a market cap of $850.34 million, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.73 and a beta of 1.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.20 and a current ratio of 2.85. PGT Innovations has a 1-year low of $13.35 and a 1-year high of $26.40.

PGT Innovations (NYSE:PGTI) last announced its earnings results on Wednesday, February 27th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $189.89 million during the quarter, compared to analysts’ expectations of $173.39 million. PGT Innovations had a net margin of 7.72% and a return on equity of 22.09%. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. On average, sell-side analysts predict that PGT Innovations will post 1 earnings per share for the current year.

In other news, Director Richard D. Feintuch bought 4,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $14.54 per share, for a total transaction of $58,160.00. Following the completion of the acquisition, the director now owns 98,300 shares in the company, valued at $1,429,282. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rodney Hershberger sold 19,663 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $14.48, for a total transaction of $284,720.24. Following the transaction, the director now owns 1,119,863 shares in the company, valued at $16,215,616.24. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in PGT Innovations by 2.2% during the fourth quarter. BlackRock Inc. now owns 9,374,583 shares of the construction company’s stock worth $148,590,000 after buying an additional 205,039 shares during the last quarter. Vanguard Group Inc boosted its position in PGT Innovations by 27.5% during the third quarter. Vanguard Group Inc now owns 4,248,982 shares of the construction company’s stock worth $91,777,000 after purchasing an additional 917,089 shares during the period. Vanguard Group Inc. boosted its position in PGT Innovations by 27.5% during the third quarter. Vanguard Group Inc. now owns 4,248,982 shares of the construction company’s stock worth $91,777,000 after purchasing an additional 917,089 shares during the period. Renaissance Technologies LLC boosted its position in PGT Innovations by 3.1% during the third quarter. Renaissance Technologies LLC now owns 3,997,529 shares of the construction company’s stock worth $86,347,000 after purchasing an additional 119,800 shares during the period. Finally, Jennison Associates LLC boosted its position in PGT Innovations by 1.5% during the fourth quarter. Jennison Associates LLC now owns 1,517,798 shares of the construction company’s stock worth $24,057,000 after purchasing an additional 22,850 shares during the period. Institutional investors and hedge funds own 92.31% of the company’s stock.

PGT Innovations Company Profile

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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Analyst Recommendations for PGT Innovations (NYSE:PGTI)

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