RBC Capital Markets Begins Coverage on Ply Gem Holdings Inc. (PGEM)
RBC Capital Markets assumed coverage on shares of Ply Gem Holdings Inc. (NYSE:PGEM) in a research report sent to investors on Tuesday morning. The brokerage issued an outperform rating and a $16.00 price objective on the stock.
A number of other research analysts have also weighed in on PGEM. Credit Suisse Group AG reaffirmed a hold rating and set a $16.00 price objective on shares of Ply Gem Holdings in a report on Wednesday, June 29th. JPMorgan Chase & Co. upped their price objective on Ply Gem Holdings from $16.00 to $17.00 and gave the stock a neutral rating in a report on Tuesday, August 9th. Imperial Capital upped their price objective on Ply Gem Holdings from $17.50 to $18.50 and gave the stock an outperform rating in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada initiated coverage on Ply Gem Holdings in a report on Tuesday. They set an outperform rating and a $16.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $16.07.
Shares of Ply Gem Holdings (NYSE:PGEM) opened at 13.69 on Tuesday. The firm has a 50 day moving average price of $14.01 and a 200-day moving average price of $14.33. Ply Gem Holdings has a 52 week low of $8.58 and a 52 week high of $16.09. The firm has a market capitalization of $933.45 million, a P/E ratio of 14.44 and a beta of 2.59.
Ply Gem Holdings (NYSE:PGEM) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ 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 had revenue of $510.50 million for the quarter, compared to analyst estimates of $531.39 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. Ply Gem Holdings’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that Ply Gem Holdings will post $1.30 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased 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 during the period. BlackRock Group LTD increased 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 during the period. American International Group Inc. increased 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 during the period. BlackRock Advisors LLC increased 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 during the period. Finally, UBS Asset Management Americas Inc. acquired a new position in Ply Gem Holdings during the first quarter valued at $193,000. Hedge funds and other institutional investors own 29.18% of the company’s stock.
Ply Gem Holdings Company Profile
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.
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