PGT Innovations Inc (PGTI) Sees Unusually-High Trading Volume
Shares of PGT Innovations Inc (NASDAQ:PGTI) saw an uptick in trading volume on Tuesday . 1,072,440 shares changed hands during mid-day trading, an increase of 322% from the previous session’s volume of 254,294 shares.The stock last traded at $14.00 and had previously closed at $13.35.
Several research firms have recently issued reports on PGTI. Zacks Investment Research upgraded PGT Innovations from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a “buy” rating and issued a $13.00 price target on shares of PGT Innovations in a research report on Monday, May 15th. BidaskClub lowered PGT Innovations from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. TheStreet upgraded PGT Innovations from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. Finally, FBR & Co restated a “buy” rating and issued a $15.00 price target (up from $13.00) on shares of PGT Innovations in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.00.
The company has a 50 day moving average of $13.01 and a 200 day moving average of $11.72. The firm has a market cap of $694.43 million, a price-to-earnings ratio of 25.04 and a beta of 0.93.
PGT Innovations (NASDAQ:PGTI) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. PGT Innovations had a net margin of 7.46% and a return on equity of 28.98%. The company had revenue of $137.38 million for the quarter, compared to analysts’ expectations of $127.79 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue was up 15.4% on a year-over-year basis. On average, analysts expect that PGT Innovations Inc will post $0.60 earnings per share for the current fiscal year.
In other news, Director Brett N. Milgrim sold 8,894 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $13.10, for a total transaction of $116,511.40. Following the completion of the sale, the director now owns 55,760 shares in the company, valued at approximately $730,456. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard D. Feintuch sold 49,459 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $13.19, for a total transaction of $652,364.21. Following the sale, the director now owns 81,051 shares of the company’s stock, valued at approximately $1,069,062.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,675 shares of company stock valued at $879,808. Company insiders own 6.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC boosted its holdings in PGT Innovations by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 11,457 shares of the construction company’s stock worth $123,000 after buying an additional 750 shares during the period. State of Alaska Department of Revenue boosted its holdings in PGT Innovations by 79.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,755 shares of the construction company’s stock valued at $124,000 after purchasing an additional 4,325 shares during the period. Piedmont Investment Advisors LLC bought a new position in PGT Innovations in the 2nd quarter valued at $137,000. Citadel Advisors LLC bought a new position in PGT Innovations in the 2nd quarter valued at $147,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in PGT Innovations by 55.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,568 shares of the construction company’s stock valued at $186,000 after purchasing an additional 5,224 shares during the period. Institutional investors own 96.80% of the company’s stock.
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PGT Innovations Company Profile
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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