SunTrust Banks, Inc. Reaffirms “Buy” Rating for PGT Innovations Inc (PGTI)
A number of other research firms have also recently commented on PGTI. Raymond James Financial, Inc. cut PGT Innovations from an outperform rating to a market perform rating in a report on Friday, August 4th. FBR & Co reissued a buy rating and set a $15.00 price target (up previously from $13.00) on shares of PGT Innovations in a report on Monday, August 21st. TheStreet raised PGT Innovations from a c+ rating to a b- rating in a report on Thursday, June 22nd. BidaskClub raised PGT Innovations from a sell rating to a hold rating in a report on Friday, September 8th. Finally, Royal Bank Of Canada reissued a buy rating and set a $13.00 price target on shares of PGT Innovations in a report on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $14.00.
Shares of PGT Innovations (NASDAQ PGTI) traded up 1.08% during mid-day trading on Tuesday, hitting $14.00. The stock had a trading volume of 164,335 shares. The stock has a 50 day moving average price of $13.26 and a 200 day moving average price of $11.89. PGT Innovations has a 52 week low of $9.50 and a 52 week high of $14.88. The firm has a market cap of $694.43 million, a PE ratio of 25.04 and a beta of 0.93.
PGT Innovations (NASDAQ:PGTI) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $127.79 million. During the same quarter in the previous year, the firm earned $0.15 EPS. PGT Innovations’s revenue was up 15.4% on a year-over-year basis. Equities research analysts expect that PGT Innovations will post $0.60 EPS for the current fiscal year.
In related news, Director Brett N. Milgrim sold 8,322 shares of the business’s stock in a transaction 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 sale, the director now owns 64,654 shares in the company, valued at approximately $861,837.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett N. Milgrim sold 8,894 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $13.10, for a total value of $116,511.40. Following the sale, the director now owns 55,760 shares in the company, valued at approximately $730,456. The disclosure for this sale can be found here. Insiders have sold a total of 66,675 shares of company stock worth $879,808 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PGTI. Mason Street Advisors LLC grew 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 worth $123,000 after acquiring an additional 750 shares during the last quarter. State of Alaska Department of Revenue grew 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 worth $124,000 after acquiring an additional 4,325 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in PGT Innovations during the 2nd quarter worth $137,000. Citadel Advisors LLC bought a new stake in PGT Innovations during the 2nd quarter worth $147,000. Finally, BNP Paribas Arbitrage SA grew 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 worth $186,000 after acquiring an additional 5,224 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.
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.
Receive News & Ratings for PGT Innovations Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PGT Innovations Inc and related companies with MarketBeat.com's FREE daily email newsletter.