PGT Innovations Inc (PGTI) Sees Large Volume Increase
Shares of PGT Innovations Inc (NASDAQ:PGTI) saw unusually-high trading volume on Tuesday . Approximately 1,072,440 shares traded 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.
PGTI has been the subject of a number of recent analyst reports. TheStreet raised PGT Innovations from a “c+” rating to a “b-” rating in a research note on Thursday, June 22nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $13.00 price objective on shares of PGT Innovations in a research report on Monday, May 15th. FBR & Co reiterated a “buy” rating and issued a $15.00 price objective (up from $13.00) on shares of PGT Innovations in a research report on Monday, August 21st. Raymond James Financial, Inc. lowered PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Friday, August 4th. Finally, BidaskClub lowered PGT Innovations from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.
The stock has a market capitalization of $694.43 million, a PE ratio of 25.04 and a beta of 0.93. The firm has a 50-day moving average price of $13.07 and a 200-day moving average price of $11.75.
PGT Innovations (NASDAQ:PGTI) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. PGT Innovations had a return on equity of 28.98% and a net margin of 7.46%. The company had revenue of $137.38 million during the quarter, compared to analyst estimates of $127.79 million. During the same quarter last year, the company earned $0.15 EPS. The firm’s revenue for the quarter 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 year.
In related news, Director Brett N. Milgrim sold 8,322 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $13.33, for a total transaction of $110,932.26. Following the completion of the transaction, the director now owns 64,654 shares of the company’s stock, valued at approximately $861,837.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $116,511.40. Following the transaction, the director now directly owns 55,760 shares of the company’s stock, valued at approximately $730,456. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,675 shares of company stock valued at $879,808. 6.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of PGTI. Mason Street Advisors LLC increased its position in PGT Innovations by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 11,457 shares of the construction company’s stock valued at $123,000 after buying an additional 750 shares in the last quarter. State of Alaska Department of Revenue increased its position in PGT Innovations by 79.7% during 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 buying an additional 4,325 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in PGT Innovations during the 2nd quarter valued at approximately $137,000. Citadel Advisors LLC bought a new position in PGT Innovations during the 2nd quarter valued at approximately $147,000. Finally, BNP Paribas Arbitrage SA increased its position in PGT Innovations by 55.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,568 shares of the construction company’s stock valued at $186,000 after buying an additional 5,224 shares in the last quarter. 96.80% of the stock is owned by institutional investors.
About PGT Innovations
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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