PGT Innovations (NYSE:PGTI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of PGT Innovations (NYSE:PGTI) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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. “

Several other equities analysts have also issued reports on PGTI. KeyCorp lifted their price target on PGT Innovations from $20.00 to $22.00 and gave the company an overweight rating in a research note on Monday, May 6th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $23.63.

Shares of PGTI opened at $16.56 on Wednesday. PGT Innovations has a 52-week low of $13.35 and a 52-week high of $26.40. The firm has a fifty day simple moving average of $16.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.28 and a current ratio of 3.03. The company has a market cap of $927.72 million, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01.

PGT Innovations (NYSE:PGTI) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. PGT Innovations had a return on equity of 18.46% and a net margin of 7.49%. The company had revenue of $174.00 million for the quarter, compared to analyst estimates of $175.14 million. During the same quarter last year, the company posted $0.19 EPS. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, equities analysts expect that PGT Innovations will post 1.01 earnings per share for the current fiscal year.

In related news, Director Rodney Hershberger sold 8,690 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $14.54, for a total transaction of $126,352.60. Following the sale, the director now owns 1,119,863 shares in the company, valued at approximately $16,282,808.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 75,548 shares of company stock worth $1,141,822 in the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PGTI. GYL Financial Synergies LLC bought a new stake in PGT Innovations during the 1st quarter worth approximately $421,000. Thomas J. Herzfeld Advisors Inc. increased its holdings in PGT Innovations by 9.1% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 60,170 shares of the construction company’s stock worth $833,000 after purchasing an additional 5,000 shares in the last quarter. Lazard Asset Management LLC increased its holdings in PGT Innovations by 44.5% during the 1st 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 in the last quarter. U S Global Investors Inc. bought a new position in shares of PGT Innovations in the first quarter valued at approximately $399,000. Finally, Kennedy Capital Management Inc. bought a new position in shares of PGT Innovations in the first quarter valued at approximately $2,424,000. Institutional investors and hedge funds own 89.39% 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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