PGT Innovations (NYSE:PGTI) Raised to “Hold” at Zacks Investment Research

PGT Innovations (NYSE:PGTIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

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. “

A number of other research firms also recently weighed in on PGTI. TheStreet downgraded PGT Innovations from a “b-” rating to a “c+” rating in a report on Wednesday, April 13th. JPMorgan Chase & Co. decreased their price objective on PGT Innovations from $21.50 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. Finally, StockNews.com initiated coverage on PGT Innovations in a report on Thursday, March 31st. They set a “hold” rating on the stock.

PGTI stock opened at $18.63 on Thursday. PGT Innovations has a twelve month low of $16.26 and a twelve month high of $28.11. The company has a market cap of $1.12 billion, a PE ratio of 41.40 and a beta of 1.34. The business’s 50-day simple moving average is $19.21 and its 200 day simple moving average is $20.35. The company has a quick ratio of 2.43, a current ratio of 3.10 and a debt-to-equity ratio of 1.18.

PGT Innovations (NYSE:PGTIGet Rating) last released its earnings results on Thursday, February 17th. The construction company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PGT Innovations had a return on equity of 11.66% and a net margin of 2.70%. The business had revenue of $304.00 million for the quarter, compared to the consensus estimate of $300.55 million. During the same period last year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. On average, equities research analysts anticipate that PGT Innovations will post 1.67 EPS for the current year.

In other news, VP Deborah L. Lapinska sold 5,000 shares of PGT Innovations stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $21.39, for a total value of $106,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rodney Hershberger sold 2,000 shares of PGT Innovations stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $21.43, for a total transaction of $42,860.00. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Isthmus Partners LLC raised its position in PGT Innovations by 7.3% in the 1st quarter. Isthmus Partners LLC now owns 84,491 shares of the construction company’s stock worth $1,519,000 after purchasing an additional 5,736 shares during the last quarter. Victory Capital Management Inc. raised its position in PGT Innovations by 11.7% in the 1st quarter. Victory Capital Management Inc. now owns 92,633 shares of the construction company’s stock worth $1,646,000 after purchasing an additional 9,699 shares during the last quarter. Envestnet Asset Management Inc. raised its position in PGT Innovations by 11.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,481 shares of the construction company’s stock worth $188,000 after purchasing an additional 1,056 shares during the last quarter. Cambiar Investors LLC raised its position in PGT Innovations by 5.7% in the 1st quarter. Cambiar Investors LLC now owns 130,932 shares of the construction company’s stock worth $2,354,000 after purchasing an additional 7,057 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in PGT Innovations by 60.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 86,877 shares of the construction company’s stock worth $1,562,000 after purchasing an additional 32,870 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

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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