PGT Inc. (PGTI) Trading Down 9.3%
PGT Inc. (NASDAQ:PGTI) shares fell 9.3% during mid-day trading on Thursday . The stock traded as low as $10.64 and last traded at $11.31, with a volume of 1,112,844 shares. The stock had previously closed at $12.47.
Several research firms have recently issued reports on PGTI. Zacks Investment Research raised PGT from a “sell” rating to a “hold” rating and set a $13.00 price objective for the company in a research report on Thursday, July 7th. FBR & Co assumed coverage on PGT in a research note on Wednesday, June 1st. They set an “outperform” rating and a $14.50 target price for the company. Gabelli assumed coverage on PGT in a research note on Monday, May 9th. They set a “buy” rating and a $15.00 target price for the company. Dougherty & Co increased their target price on PGT from $12.50 to $14.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Finally, Royal Bank Of Canada increased their target price on PGT from $11.00 to $12.00 in a research note on Tuesday, April 12th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. PGT has a consensus rating of “Buy” and an average price target of $14.56.
The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $10.33. The company has a market capitalization of $548.17 million and a P/E ratio of 30.43.
PGT (NASDAQ:PGTI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. The company had revenue of $119 million for the quarter, compared to the consensus estimate of $124.29 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. Analysts predict that PGT Inc. will post $0.58 EPS for the current year.
In other news, CEO Rodney Hershberger sold 28,500 shares of PGT stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $12.00, for a total value of $342,000.00. Following the sale, the chief executive officer now directly owns 986,843 shares of the company’s stock, valued at $11,842,116. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Other hedge funds have recently modified their holdings of the company. Marshall Wace LLP raised its stake in shares of 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. Comerica Bank increased its position 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 last quarter. Finally, Wells Fargo & Company MN increased its position 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 last quarter.
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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