Zacks Investment Research upgraded shares of Ply Gem (NYSE:PGEM) from a hold rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $24.00 price target on the construction company’s stock.
According to Zacks, “Ply Gem Holdings Inc. is engaged in manufacturing and selling exterior building products primarily in the United States and Canada. Its business segment consists of: Siding, Fencing, and Stone and Windows and Doors. The Company offers vinyl siding, designer accents, cellular PVC trim, vinyl fencing, vinyl and composite railing, stone veneer and vinyl windows and doors. Its brand name include Variform(R), Napco(R), Mastic Home Exteriors(R), Cellwood(R), Kroy and Kroy Express(R), Ply Gem Stone(R), Georgia-Pacific and Durabuilt (R), Ply Gem Windows(R), Great Lakes Window(R). The company serves residential and commercial construction, manufactured housing, professional remodelling and renovation markets. Ply Gem Holdings Inc. is headquartered in Cary, North Carolina. “
Other analysts have also issued research reports about the stock. Royal Bank of Canada set a $23.00 price target on shares of Ply Gem and gave the company a buy rating in a research report on Wednesday. ValuEngine raised shares of Ply Gem from a hold rating to a buy rating in a report on Friday, February 2nd. BidaskClub downgraded shares of Ply Gem from a hold rating to a sell rating in a report on Saturday, November 4th. Finally, KeyCorp reaffirmed a hold rating on shares of Ply Gem in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $22.00.
In other Ply Gem news, insider John L. Buckley sold 32,725 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $22.00, for a total transaction of $719,950.00. Following the transaction, the insider now directly owns 32,724 shares of the company’s stock, valued at $719,928. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 68.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC purchased a new position in Ply Gem during the fourth quarter valued at $209,000. Millennium Management LLC lifted its holdings in Ply Gem by 210.7% during the fourth quarter. Millennium Management LLC now owns 470,754 shares of the construction company’s stock valued at $8,709,000 after purchasing an additional 319,261 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Ply Gem by 8.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 176,639 shares of the construction company’s stock valued at $3,268,000 after purchasing an additional 13,788 shares in the last quarter. Two Sigma Investments LP purchased a new position in Ply Gem during the fourth quarter valued at $2,716,000. Finally, Two Sigma Advisers LP lifted its holdings in Ply Gem by 18.4% during the fourth quarter. Two Sigma Advisers LP now owns 123,700 shares of the construction company’s stock valued at $2,288,000 after purchasing an additional 19,200 shares in the last quarter. 29.27% of the stock is currently owned by institutional investors and hedge funds.
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Ply Gem Company Profile
Ply Gem Holdings, Inc is a manufacturer of exterior building products in North America. The Company operates through two segments: Siding, Fencing, and Stone, and Windows and Doors. In the Siding, Fencing, and Stone segment, its principal products include vinyl siding and skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC trim and moldings, J-channels, wide crown molding, window and door trim, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutters, vents and mounts, vinyl fence, vinyl railing and stone veneer in the United States and Canada.
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