ValuEngine Upgrades PGT Innovations (PGTI) to “Hold”

PGT Innovations (NYSE:PGTI) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

Several other equities analysts have also commented on the company. KeyCorp upped their target price on PGT Innovations from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Investment Research lowered PGT Innovations from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Dougherty & Co reiterated a “buy” rating and issued a $22.00 target price (down from $27.00) on shares of PGT Innovations in a research note on Thursday, February 28th. Finally, Wells Fargo & Co lowered PGT Innovations from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $23.56.

PGT Innovations stock opened at $15.42 on Tuesday. The firm has a market capitalization of $939.39 million, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 0.79 and a beta of 1.01. PGT Innovations has a 52 week low of $13.35 and a 52 week high of $26.40. The company has a quick ratio of 2.28, a current ratio of 3.03 and a debt-to-equity ratio of 0.99.

PGT Innovations (NYSE:PGTI) last released its earnings results on Thursday, May 2nd. The construction company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The firm had revenue of $174.00 million during the quarter, compared to analyst estimates of $175.14 million. PGT Innovations had a return on equity of 18.46% and a net margin of 7.49%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. Research analysts predict that PGT Innovations will post 1 EPS for the current year.

In other news, insider Jeffrey T. Jackson purchased 3,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of $14.35 per share, for a total transaction of $43,050.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rodney Hershberger sold 19,663 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $14.48, for a total value of $284,720.24. Following the sale, the director now owns 1,119,863 shares of the company’s stock, valued at $16,215,616.24. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

A number of large investors have recently made changes to their positions in PGTI. Broad Bay Capital Management LP acquired a new stake in PGT Innovations during the fourth quarter worth about $20,415,000. Copper Rock Capital Partners LLC acquired a new stake in PGT Innovations during the fourth quarter worth about $18,501,000. Vanguard Group Inc increased its stake in PGT Innovations by 27.5% during the third quarter. Vanguard Group Inc now owns 4,248,982 shares of the construction company’s stock worth $91,777,000 after acquiring an additional 917,089 shares during the last quarter. Vanguard Group Inc. increased its stake in PGT Innovations by 27.5% during the third quarter. Vanguard Group Inc. now owns 4,248,982 shares of the construction company’s stock worth $91,777,000 after acquiring an additional 917,089 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of PGT Innovations by 547.1% in the fourth quarter. Fiera Capital Corp now owns 1,051,118 shares of the construction company’s stock worth $16,660,000 after buying an additional 888,676 shares during the period. Institutional investors own 89.86% of the company’s stock.

About PGT Innovations

PGT Innovations, Inc manufactures and supplies impact-resistant residential windows and doors in the Southeastern United States, Western United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. It 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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Analyst Recommendations for PGT Innovations (NYSE:PGTI)

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