PGT Inc. (PGTI) Sees Unusually-High Trading Volume
Shares of PGT Inc. (NASDAQ:PGTI) saw strong trading volume on Friday . 590,267 shares changed hands during mid-day trading, an increase of 35% from the previous session’s volume of 437,721 shares.The stock last traded at $11.01 and had previously closed at $11.00.
PGTI has been the subject of several analyst reports. Zacks Investment Research raised shares of PGT from a “sell” rating to a “hold” rating and set a $13.00 price target for the company in a research note on Thursday, July 7th. FBR & Co initiated coverage on shares of PGT in a research note on Wednesday, June 1st. They set an “outperform” rating and a $14.50 price target for the company. Royal Bank Of Canada raised their price target on shares of PGT from $11.00 to $12.00 in a research note on Tuesday, April 12th. Dougherty & Co raised their price target on shares of PGT from $12.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 6th. Finally, Gabelli initiated coverage on shares of PGT in a research note on Monday, May 9th. They set a “buy” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.56.
The stock has a market capitalization of $548.17 million and a price-to-earnings ratio of 30.43. The firm has a 50-day moving average price of $11.21 and a 200 day moving average price of $10.33.
PGT (NASDAQ:PGTI) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. During the same period in the prior year, the firm earned $0.17 EPS. The company earned $119 million during the quarter, compared to analysts’ expectations of $124.29 million. PGT’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts expect that PGT Inc. will post $0.58 EPS for the current fiscal year.
In other PGT news, Chairman Rodney Hershberger sold 55,803 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $12.07, for a total value of $673,542.21. Following the completion of the transaction, the chairman now owns 1,014,146 shares of the company’s stock, valued at approximately $12,240,742.22. The transaction was disclosed in a filing with the SEC, which is available through this link.
A number of institutional investors recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its position in PGT by 87.1% in the fourth quarter. Marshall Wace LLP now owns 88,157 shares of the company’s stock worth $1,004,000 after buying an additional 41,047 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of PGT by 8.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,250,715 shares of the company’s stock worth $14,245,000 after buying an additional 96,298 shares during the period. Finally, Comerica Bank boosted its stake in shares of PGT by 73.5% in the fourth quarter. Comerica Bank now owns 165,904 shares of the company’s stock worth $1,604,000 after buying an additional 70,266 shares during the period.
PGT, Inc is a manufacturer and supplier of residential impact-resistant windows and doors. The Company operates through the manufacture and sale of windows and doors segment. The Company’s impact-resistant products are marketed under the WinGuard, PremierVue, PGT Architectural Systems and PGT Commercial Storefront System brand names, combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris.
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