PGT Innovations (NYSE:PGTI) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of PGT Innovations (NYSE:PGTI) from a hold rating to a buy rating in a research report report published on Monday.

A number of other research analysts have also commented on PGTI. Truist Financial increased their price objective on PGT Innovations from $29.00 to $32.00 in a research report on Monday, June 5th. Jefferies Financial Group increased their price objective on PGT Innovations from $33.00 to $37.00 and gave the company a buy rating in a research report on Thursday, July 13th.

PGT Innovations Price Performance

Shares of NYSE:PGTI opened at $27.03 on Monday. The business has a 50 day moving average price of $27.96 and a 200 day moving average price of $25.63. PGT Innovations has a twelve month low of $17.43 and a twelve month high of $29.64. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.93 and a beta of 1.45. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 1.03.

PGT Innovations (NYSE:PGTI) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The firm had revenue of $384.90 million during the quarter, compared to analysts’ expectations of $390.95 million. PGT Innovations had a return on equity of 18.47% and a net margin of 7.15%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 EPS. Research analysts predict that PGT Innovations will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Rodney Hershberger sold 2,500 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.29, for a total transaction of $73,225.00. Following the sale, the director now owns 1,346,655 shares of the company’s stock, valued at approximately $39,443,524.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 7,500 shares of company stock valued at $206,775. 4.90% of the stock is owned by company insiders.

Institutional Trading of PGT Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of PGT Innovations by 6.6% in the third quarter. BlackRock Inc. now owns 9,859,162 shares of the construction company’s stock valued at $206,646,000 after acquiring an additional 610,447 shares during the last quarter. Wellington Management Group LLP grew its holdings in PGT Innovations by 2.6% during the first quarter. Wellington Management Group LLP now owns 4,648,037 shares of the construction company’s stock worth $116,712,000 after purchasing an additional 118,177 shares during the period. Vanguard Group Inc. grew its holdings in PGT Innovations by 1.5% during the third quarter. Vanguard Group Inc. now owns 3,984,588 shares of the construction company’s stock worth $83,518,000 after purchasing an additional 58,695 shares during the period. Dimensional Fund Advisors LP grew its holdings in PGT Innovations by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,598,278 shares of the construction company’s stock worth $75,740,000 after purchasing an additional 55,146 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in PGT Innovations by 0.5% during the first quarter. Lazard Asset Management LLC now owns 2,368,006 shares of the construction company’s stock worth $42,576,000 after purchasing an additional 10,839 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.

About PGT Innovations

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.