Royal Bank Of Canada Initiates Coverage on Ply Gem Holdings Inc. (PGEM)
Research analysts at Royal Bank Of Canada started coverage on shares of Ply Gem Holdings Inc. (NYSE:PGEM) in a research report issued on Tuesday. The brokerage set an “outperform” rating and a $16.00 price target on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 18.17% from the stock’s previous close.
PGEM has been the subject of several other research reports. Imperial Capital increased their price target on Ply Gem Holdings from $17.50 to $18.50 and gave the company an “outperform” rating in a report on Wednesday, August 10th. Credit Suisse Group AG reissued a “hold” rating and set a $16.00 target price on shares of Ply Gem Holdings in a research note on Wednesday, June 29th. Finally, JPMorgan Chase & Co. raised their target price on Ply Gem Holdings from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $16.07.
Ply Gem Holdings (NYSE:PGEM) opened at 13.54 on Tuesday. The stock has a 50 day moving average price of $14.04 and a 200 day moving average price of $14.34. The company has a market capitalization of $923.22 million, a price-to-earnings ratio of 14.28 and a beta of 2.59. Ply Gem Holdings has a 52-week low of $8.58 and a 52-week high of $16.09.
Ply Gem Holdings (NYSE:PGEM) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Ply Gem Holdings had a negative return on equity of 99.17% and a net margin of 3.45%. The firm earned $510.50 million during the quarter, compared to analysts’ expectations of $531.39 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts expect that Ply Gem Holdings will post $1.30 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Ply Gem Holdings by 197.7% in the second quarter. BlackRock Inc. now owns 7,091 shares of the company’s stock valued at $104,000 after buying an additional 4,709 shares in the last quarter. BlackRock Group LTD raised its position in Ply Gem Holdings by 392.2% in the first quarter. BlackRock Group LTD now owns 8,367 shares of the company’s stock valued at $118,000 after buying an additional 6,667 shares in the last quarter. American International Group Inc. raised its position in Ply Gem Holdings by 0.4% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock valued at $185,000 after buying an additional 45 shares in the last quarter. BlackRock Advisors LLC raised its position in Ply Gem Holdings by 29.4% in the second quarter. BlackRock Advisors LLC now owns 12,910 shares of the company’s stock valued at $188,000 after buying an additional 2,930 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in Ply Gem Holdings during the first quarter valued at approximately $193,000. Institutional investors and hedge funds own 29.18% of the company’s stock.
About Ply Gem Holdings
Ply Gem Holdings, Inc is a manufacturer of exterior building products in North America. The Company operates through two segments: Siding, Fencing, and Stone, and Windows and Doors. In the Siding, Fencing, and Stone segment, the Company’s principal products include vinyl skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC moldings, J-channels, wide crown molding, window and door trim, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutters, vents and mounts, vinyl fence, vinyl railing and stone veneer in the United States and Canada.
Receive News & Ratings for Ply Gem Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ply Gem Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.