PGT Inc. (PGTI) Sees Large Volume Increase
PGT Inc. (NASDAQ:PGTI) saw unusually-high trading volume on Friday . Approximately 590,267 shares traded 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 a number of research reports. Zacks Investment Research raised shares of PGT from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Gabelli initiated coverage on shares of PGT in a report on Monday, May 9th. They issued a “buy” rating and a $15.00 target price for the company. Royal Bank Of Canada upped their target price on shares of PGT from $11.00 to $12.00 in a report on Tuesday, April 12th. Dougherty & Co upped their target price on shares of PGT from $12.50 to $14.00 and gave the company a “buy” rating in a report on Friday, May 6th. Finally, FBR & Co initiated coverage on shares of PGT in a report on Wednesday, June 1st. They issued an “outperform” rating and a $14.50 target price for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $14.56.
The firm has a 50-day moving average of $11.21 and a 200 day moving average of $10.33. The company has a market cap of $551.12 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 for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The company had revenue of $119 million for the quarter, compared to analyst estimates of $124.29 million. During the same period in the prior year, the business earned $0.17 earnings per share. PGT’s revenue was up 18.1% on a year-over-year basis. Equities research analysts anticipate that PGT Inc. will post $0.56 EPS for the current fiscal year.
In other PGT news, CEO Rodney Hershberger sold 28,500 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $12.00, for a total transaction of $342,000.00. Following the completion of the transaction, the chief executive officer now directly owns 986,843 shares of the company’s stock, valued at approximately $11,842,116. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Other hedge funds and institutional investors recently made changes to their positions in the company. Marshall Wace LLP raised its position in shares of PGT by 87.1% in the fourth quarter. Marshall Wace LLP now owns 88,157 shares of the company’s stock valued at $1,004,000 after buying an additional 41,047 shares in the last quarter. Comerica Bank raised its position in PGT by 73.5% in the fourth quarter. Comerica Bank now owns 165,904 shares of the company’s stock valued at $1,604,000 after buying an additional 70,266 shares during the period. Finally, Wells Fargo & Company MN raised its position in PGT by 8.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,250,715 shares of the company’s stock valued at $14,245,000 after buying an additional 96,298 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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