PGT Innovations (NYSE:PGTI) Trading Down 15.6%

PGT Innovations Inc (NYSE:PGTI)’s stock price fell 15.6% during mid-day trading on Thursday . The stock traded as low as $13.53 and last traded at $13.61, 1,106,736 shares were traded during trading. An increase of 120% from the average session volume of 503,196 shares. The stock had previously closed at $16.12.

Several research firms have issued reports on PGTI. Zacks Investment Research downgraded PGT Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. KeyCorp increased their target price on PGT Innovations from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. ValuEngine downgraded PGT Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Gabelli upgraded PGT Innovations from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.88.

The company has a current ratio of 3.03, a quick ratio of 2.28 and a debt-to-equity ratio of 0.99. The firm has a market cap of $951.06 million, a P/E ratio of 11.53, a PEG ratio of 1.22 and a beta of 1.01. The company has a 50-day simple moving average of $16.30.

PGT Innovations (NYSE:PGTI) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. PGT Innovations had a return on equity of 18.46% and a net margin of 7.49%. The company had revenue of $199.00 million for the quarter, compared to the consensus estimate of $206.34 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. Equities research analysts forecast that PGT Innovations Inc will post 1 earnings per share for the current fiscal year.

In related news, Director Rodney Hershberger sold 11,830 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $16.29, for a total value of $192,710.70. Following the sale, the director now owns 1,207,630 shares in the company, valued at $19,672,292.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 59,025 shares of company stock worth $923,460 in the last quarter. 5.80% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of PGTI. Rice Hall James & Associates LLC raised its position 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 buying an additional 852,806 shares in the last quarter. Lazard Asset Management LLC increased its stake in 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 valued at $25,071,000 after acquiring an additional 557,105 shares during the last quarter. American Century Companies Inc. bought a new position in PGT Innovations in the fourth quarter valued at $4,769,000. Systematic Financial Management LP increased its stake in PGT Innovations by 65.2% in the first quarter. Systematic Financial Management LP now owns 667,819 shares of the construction company’s stock valued at $9,249,000 after acquiring an additional 263,619 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in PGT Innovations by 250.9% in the fourth quarter. Deutsche Bank AG now owns 355,828 shares of the construction company’s stock valued at $5,638,000 after acquiring an additional 254,434 shares during the last quarter. Institutional investors own 87.81% of the company’s stock.

PGT Innovations Company Profile (NYSE:PGTI)

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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