BidaskClub upgraded shares of PGT Innovations Inc (NASDAQ:PGTI) from a sell rating to a hold rating in a research note released on Friday.
PGTI has been the topic of a number of other reports. Raymond James Financial, Inc. cut PGT Innovations from an outperform rating to a market perform rating in a research note on Friday, August 4th. FBR & Co restated a buy rating and issued a $15.00 price target (up from $13.00) on shares of PGT Innovations in a research note on Monday, August 21st. TheStreet upgraded PGT Innovations from a c+ rating to a b- rating in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada restated a buy rating and issued a $13.00 price target on shares of PGT Innovations in a research note on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. PGT Innovations presently has a consensus rating of Hold and a consensus price target of $14.00.
Shares of PGT Innovations (NASDAQ PGTI) opened at 13.85 on Friday. PGT Innovations has a 52 week low of $9.50 and a 52 week high of $14.88. The company has a market capitalization of $686.99 million, a price-to-earnings ratio of 24.78 and a beta of 0.93. The company’s 50 day moving average price is $13.15 and its 200-day moving average price is $11.82.
PGT Innovations (NASDAQ:PGTI) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $137.38 million for the quarter, compared to analysts’ expectations of $127.79 million. PGT Innovations had a return on equity of 28.98% and a net margin of 7.46%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. Analysts anticipate that PGT Innovations will post $0.60 earnings per share for the current fiscal year.
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In other PGT Innovations news, Director Richard D. Feintuch sold 49,459 shares of PGT Innovations stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $13.19, for a total value of $652,364.21. Following the completion of the sale, the director now directly owns 81,051 shares of the company’s stock, valued at approximately $1,069,062.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brett N. Milgrim sold 8,894 shares of PGT Innovations stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $13.10, for a total transaction of $116,511.40. Following the completion of the sale, the director now directly owns 55,760 shares of the company’s stock, valued at $730,456. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,675 shares of company stock valued at $879,808. Insiders own 6.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue grew its stake in shares of PGT Innovations by 79.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,755 shares of the construction company’s stock valued at $124,000 after buying an additional 4,325 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of PGT Innovations during the 2nd quarter valued at $137,000. Citadel Advisors LLC purchased a new stake in shares of PGT Innovations during the 2nd quarter valued at $147,000. Mason Street Advisors LLC grew its stake in shares of PGT Innovations by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 11,457 shares of the construction company’s stock valued at $123,000 after buying an additional 750 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in shares of PGT Innovations by 55.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,568 shares of the construction company’s stock valued at $186,000 after buying an additional 5,224 shares during the period. 96.80% of the stock is owned by institutional investors.
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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