PGT Innovations (PGTI) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of PGT Innovations (NYSE:PGTI) from a hold rating to a buy rating in a research report released on Wednesday.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group started coverage on shares of PGT Innovations in a research note on Thursday, October 4th. They issued a buy rating and a $27.00 price target for the company. Wells Fargo & Co started coverage on shares of PGT Innovations in a report on Thursday, October 4th. They issued an outperform rating and a $25.00 price objective on the stock. Finally, B. Riley upped their price objective on shares of PGT Innovations from $20.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $22.25.

Shares of PGT Innovations stock traded down $0.27 during mid-day trading on Wednesday, hitting $22.00. The stock had a trading volume of 13,482 shares, compared to its average volume of 603,055. PGT Innovations has a 12-month low of $13.05 and a 12-month high of $26.40. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.24 and a quick ratio of 3.47. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 1.02 and a beta of 0.88.

PGT Innovations (NYSE:PGTI) last posted its quarterly earnings results on Monday, July 30th. The construction company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.10. PGT Innovations had a net margin of 9.90% and a return on equity of 26.98%. The business had revenue of $169.27 million during the quarter, compared to analysts’ expectations of $169.00 million. During the same quarter in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts expect that PGT Innovations will post 1.1 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of PGT Innovations by 4,969.7% in the 1st quarter. Sei Investments Co. now owns 6,033 shares of the construction company’s stock worth $112,000 after acquiring an additional 5,914 shares during the last quarter. Cypress Capital Management LLC WY acquired a new stake in PGT Innovations during the 2nd quarter worth approximately $138,000. Bayesian Capital Management LP acquired a new stake in PGT Innovations during the 1st quarter worth approximately $190,000. Element Capital Management LLC acquired a new stake in PGT Innovations during the 1st quarter worth approximately $191,000. Finally, Profund Advisors LLC acquired a new stake in PGT Innovations during the 1st quarter worth approximately $199,000. Hedge funds and other institutional investors own 78.88% of the company’s stock.

PGT Innovations Company Profile

PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PGT Innovations (NYSE:PGTI)

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