PGT Innovations (NYSE:PGTI) Downgraded by TheStreet to “C+”

PGT Innovations (NYSE:PGTIGet Rating) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.

A number of other brokerages have also weighed in on PGTI. Zacks Investment Research upgraded shares of PGT Innovations from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Thursday, February 24th. StockNews.com assumed coverage on shares of PGT Innovations in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of PGT Innovations from $26.00 to $21.50 and set a “neutral” rating for the company in a report on Wednesday, March 30th.

Shares of PGTI opened at $17.22 on Wednesday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 38.27 and a beta of 1.43. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.43 and a current ratio of 3.10. PGT Innovations has a fifty-two week low of $16.26 and a fifty-two week high of $28.11. The firm has a 50 day moving average price of $19.55 and a 200-day moving average price of $20.56.

PGT Innovations (NYSE:PGTIGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The construction company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $304.00 million during the quarter, compared to analyst estimates of $300.55 million. PGT Innovations had a net margin of 2.70% and a return on equity of 11.66%. The business’s quarterly revenue was up 37.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. As a group, equities research analysts predict that PGT Innovations will post 1.67 earnings per share for the current year.

In other PGT Innovations news, Director Rodney Hershberger sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $21.43, for a total transaction of $42,860.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Deborah L. Lapinska sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $21.39, for a total transaction of $106,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock valued at $187,870 over the last quarter. 4.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of PGTI. US Bancorp DE grew its position in shares of PGT Innovations by 4.9% in the 3rd quarter. US Bancorp DE now owns 35,446 shares of the construction company’s stock worth $676,000 after buying an additional 1,665 shares during the period. Geode Capital Management LLC grew its position in shares of PGT Innovations by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,643 shares of the construction company’s stock worth $19,188,000 after buying an additional 5,096 shares during the period. IndexIQ Advisors LLC grew its position in shares of PGT Innovations by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 17,806 shares of the construction company’s stock worth $340,000 after buying an additional 1,784 shares during the period. Invesco Ltd. grew its position in shares of PGT Innovations by 2.7% in the 3rd quarter. Invesco Ltd. now owns 229,114 shares of the construction company’s stock worth $4,376,000 after buying an additional 6,031 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of PGT Innovations by 0.9% in the 3rd quarter. Janus Henderson Group PLC now owns 1,473,081 shares of the construction company’s stock worth $28,136,000 after buying an additional 13,062 shares during the period. 88.33% of the stock is currently owned by institutional investors and hedge funds.

PGT Innovations Company Profile (Get Rating)

PGT Innovations, Inc, together with its subsidiaries manufactures and supplies impact-resistant aluminum frame windows and doors in the United States and internationally. The company provides heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact resistant vinyl windows with insulating glass and multi-chambered frames for various climate zones.

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