JPMorgan Chase & Co. Lowers PGT Innovations (NYSE:PGTI) Price Target to $19.00

PGT Innovations (NYSE:PGTIGet Rating) had its price target dropped by research analysts at JPMorgan Chase & Co. from $21.50 to $19.00 in a research note issued on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.01% from the stock’s current price.

A number of other analysts have also recently commented 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 target on the stock in a research note on Thursday, February 24th. StockNews.com initiated coverage on shares of PGT Innovations in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet lowered shares of PGT Innovations from a “b-” rating to a “c+” rating in a report on Wednesday, April 13th.

Shares of PGTI stock opened at $17.43 on Wednesday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 38.73 and a beta of 1.43. The company has a current ratio of 3.10, a quick ratio of 2.43 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average is $19.48 and its 200 day moving average is $20.52. PGT Innovations has a 12 month low of $16.26 and a 12 month high of $28.11.

PGT Innovations (NYSE:PGTIGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The construction company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The company had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $300.55 million. PGT Innovations had a net margin of 2.70% and a return on equity of 11.66%. PGT Innovations’s revenue was up 37.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. On average, equities analysts predict that PGT Innovations will post 1.67 EPS for the current year.

In other news, Director Rodney Hershberger sold 2,000 shares of the stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $19.03, for a total value of $38,060.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Deborah L. Lapinska sold 5,000 shares of the stock in a transaction on Tuesday, March 1st. The stock was 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 sold a total of 9,000 shares of company stock worth $187,870 in the last three months. Insiders own 4.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PGTI. Royal Bank of Canada grew its holdings in shares of PGT Innovations by 140.1% during the 2nd quarter. Royal Bank of Canada now owns 4,005 shares of the construction company’s stock valued at $93,000 after purchasing an additional 2,337 shares during the last quarter. Morgan Stanley grew its holdings in shares of PGT Innovations by 66.1% during the 2nd quarter. Morgan Stanley now owns 257,905 shares of the construction company’s stock valued at $5,991,000 after purchasing an additional 102,615 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in PGT Innovations by 31.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 130,856 shares of the construction company’s stock valued at $2,499,000 after buying an additional 31,244 shares during the period. Maryland State Retirement & Pension System purchased a new stake in PGT Innovations during the 3rd quarter valued at $466,000. Finally, SG Americas Securities LLC purchased a new stake in PGT Innovations during the 3rd quarter valued at $480,000. 88.33% of the stock is currently owned by institutional investors.

About PGT Innovations (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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