Deutsche Bank AG Cuts Holdings in PGT Innovations Inc (NYSE:PGTI)

Deutsche Bank AG lowered its holdings in PGT Innovations Inc (NYSE:PGTI) by 2.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 105,322 shares of the construction company’s stock after selling 2,484 shares during the quarter. Deutsche Bank AG owned about 0.18% of PGT Innovations worth $884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in PGT Innovations by 7.3% in the 1st quarter. State Street Corp now owns 1,850,085 shares of the construction company’s stock valued at $15,522,000 after purchasing an additional 126,354 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in PGT Innovations in the 4th quarter valued at approximately $1,067,000. Goldman Sachs Group Inc. increased its stake in PGT Innovations by 30.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 108,121 shares of the construction company’s stock valued at $1,612,000 after purchasing an additional 25,031 shares in the last quarter. Geode Capital Management LLC increased its position in PGT Innovations by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 757,659 shares of the construction company’s stock worth $11,296,000 after buying an additional 18,107 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position in PGT Innovations by 7.0% during the first quarter. Kornitzer Capital Management Inc. KS now owns 333,715 shares of the construction company’s stock worth $2,800,000 after buying an additional 21,750 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Several research firms have weighed in on PGTI. SunTrust Banks raised their price target on PGT Innovations from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wells Fargo & Co raised their price target on PGT Innovations from $10.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. dropped their price target on PGT Innovations from $17.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, March 31st. TheStreet upgraded PGT Innovations from a “c” rating to a “b-” rating in a report on Thursday, June 18th. Finally, ValuEngine upgraded PGT Innovations from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.08.

Shares of PGTI opened at $15.68 on Wednesday. The stock’s 50-day moving average is $14.05 and its two-hundred day moving average is $13.33. The stock has a market cap of $858.55 million, a PE ratio of 18.02 and a beta of 1.43. PGT Innovations Inc has a 12 month low of $6.88 and a 12 month high of $18.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.02 and a quick ratio of 2.40.

PGT Innovations (NYSE:PGTI) last issued its quarterly earnings data on Wednesday, May 13th. The construction company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.15. The company had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $189.55 million. PGT Innovations had a return on equity of 13.02% and a net margin of 6.45%. On average, research analysts anticipate that PGT Innovations Inc will post 0.65 earnings per share for the current year.

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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Institutional Ownership by Quarter for PGT Innovations (NYSE:PGTI)

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