Zacks Investment Research downgraded shares of PGT Innovations (NYSE:PGTI) from a strong-buy rating to a hold rating in a report published on Thursday.

According to Zacks, “PGT INDUSTRIES pioneered the U.S. impact-resistant window and door industry and today is the nation’s leading manufacturer and supplier of residential impact-resistant windows and doors. PGT is also one of the largest window and door manufacturers in the United States. The company’s total line of custom windows and doors is now available throughout the eastern United States, the Gulf Coast and in a growing international market, which includes the Caribbean, South America and Australia. PGT’s product line includes PGT Aluminum and Vinyl Windows and Doors; WinGuard Impact-Resistant Windows and Doors; PGT Architectural Systems; and Eze-Breeze Sliding Panels. PGT Industries is a wholly owned subsidiary of PGT, Inc. “

PGTI has been the subject of several other research reports. Deutsche Bank upped their price target on PGT Innovations from $26.00 to $28.00 and gave the stock a buy rating in a research note on Monday, November 5th. Wells Fargo & Co initiated coverage on PGT Innovations in a research note on Thursday, October 4th. They set an outperform rating and a $25.00 target price for the company. ValuEngine downgraded PGT Innovations from a buy rating to a hold rating in a research note on Friday, November 2nd. Jefferies Financial Group initiated coverage on PGT Innovations in a research note on Thursday, October 4th. They set a buy rating and a $27.00 target price for the company. Finally, B. Riley increased their target price on PGT Innovations from $20.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, July 25th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $23.63.

PGTI opened at $19.04 on Thursday. The stock has a market cap of $1.10 billion, a PE ratio of 31.21, a P/E/G ratio of 0.82 and a beta of 0.89. PGT Innovations has a 52-week low of $14.50 and a 52-week high of $26.40. The company has a quick ratio of 2.16, a current ratio of 2.82 and a debt-to-equity ratio of 0.99.

PGT Innovations (NYSE:PGTI) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.12. The company had revenue of $199.08 million during the quarter, compared to the consensus estimate of $165.62 million. PGT Innovations had a return on equity of 25.71% and a net margin of 9.92%. The firm’s revenue was up 56.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. On average, equities research analysts forecast that PGT Innovations will post 1.17 earnings per share for the current year.

In related news, Director Richard D. Feintuch sold 5,010 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $21.05, for a total transaction of $105,460.50. Following the completion of the sale, the director now owns 101,810 shares in the company, valued at approximately $2,143,100.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.80% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in PGT Innovations by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 408,788 shares of the construction company’s stock worth $7,624,000 after buying an additional 13,259 shares during the period. Bank of Montreal Can increased its stake in PGT Innovations by 539.6% in the 2nd quarter. Bank of Montreal Can now owns 67,335 shares of the construction company’s stock worth $1,403,000 after buying an additional 56,807 shares during the period. Fox Run Management L.L.C. purchased a new position in PGT Innovations in the 2nd quarter worth about $400,000. Sheets Smith Wealth Management purchased a new position in PGT Innovations in the 2nd quarter worth about $372,000. Finally, Aperio Group LLC purchased a new position in PGT Innovations in the 2nd quarter worth about $210,000. Hedge funds and other institutional investors own 85.45% of the company’s stock.

About PGT Innovations

PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.

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