Posted by admin on Apr 21st, 2022
PGT Innovations (NYSE:PGTI – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 analysts have also issued reports on PGTI. StockNews.com assumed coverage on shares of PGT Innovations in a research report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of PGT Innovations from $21.50 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, TheStreet lowered shares of PGT Innovations from a “b-” rating to a “c+” rating in a research report on Wednesday, April 13th.
Shares of PGTI opened at $17.67 on Thursday. PGT Innovations has a 52 week low of $16.26 and a 52 week high of $28.11. The firm has a market cap of $1.06 billion, a P/E ratio of 39.27 and a beta of 1.43. The firm’s 50-day simple moving average is $19.47 and its 200 day simple moving average is $20.50. 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 (NYSE:PGTI – Get 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. PGT Innovations had a net margin of 2.70% and a return on equity of 11.66%. The business had revenue of $304.00 million for the quarter, compared to analyst estimates of $300.55 million. During the same quarter in the prior year, the business earned $0.18 EPS. PGT Innovations’s quarterly revenue was up 37.2% on a year-over-year basis. As a group, equities analysts forecast that PGT Innovations will post 1.67 earnings per share for the current year.
In related news, VP Deborah L. Lapinska sold 5,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rodney Hershberger sold 2,000 shares of the 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. In the last ninety days, insiders have sold 9,000 shares of company stock valued at $187,870. 4.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in PGT Innovations by 44.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,318 shares of the construction company’s stock valued at $52,000 after acquiring an additional 712 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in PGT Innovations in the 4th quarter valued at approximately $53,000. Advisor Group Holdings Inc. increased its position in PGT Innovations by 67.4% in the 3rd quarter. Advisor Group Holdings Inc. now owns 3,096 shares of the construction company’s stock valued at $59,000 after acquiring an additional 1,246 shares during the period. Royal Bank of Canada increased its position in PGT Innovations by 140.1% in the 2nd quarter. Royal Bank of Canada now owns 4,005 shares of the construction company’s stock valued at $93,000 after acquiring an additional 2,337 shares during the period. Finally, Spire Wealth Management increased its position in PGT Innovations by 540.8% in the 4th quarter. Spire Wealth Management now owns 7,690 shares of the construction company’s stock valued at $173,000 after acquiring an additional 6,490 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.
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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