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. “
PGTI has been the subject of several other research reports. Dougherty & Co downgraded shares of PGT Innovations from a buy rating to a neutral rating in a research note on Wednesday, February 22nd. Royal Bank of Canada reiterated an outperform rating and set a $12.00 target price (down previously from $13.00) on shares of PGT Innovations in a research note on Wednesday, February 22nd. Finally, TheStreet downgraded shares of PGT Innovations from a b- rating to a c+ rating in a research note on Thursday, March 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $13.40.
PGT Innovations (NASDAQ:PGTI) traded down 0.93% during midday trading on Wednesday, reaching $10.70. The company had a trading volume of 26,642 shares. The firm’s 50 day moving average is $11.00 and its 200 day moving average is $11.06. PGT Innovations has a 1-year low of $8.96 and a 1-year high of $12.49. The stock has a market capitalization of $527.70 million, a PE ratio of 22.77 and a beta of 0.93.
PGT Innovations (NASDAQ:PGTI) last announced its earnings results on Tuesday, February 21st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. PGT Innovations had a net margin of 5.29% and a return on equity of 24.01%. The business earned $109.50 million during the quarter, compared to the consensus estimate of $110.26 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities analysts anticipate that PGT Innovations will post $0.58 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of PGT Innovations by 2.5% in the third quarter. BlackRock Fund Advisors now owns 4,174,323 shares of the company’s stock valued at $44,540,000 after buying an additional 101,006 shares during the period. BOKF NA increased its stake in shares of PGT Innovations by 595.1% in the third quarter. BOKF NA now owns 21,721 shares of the company’s stock valued at $232,000 after buying an additional 18,596 shares during the period. Cannell Capital LLC increased its stake in shares of PGT Innovations by 60.1% in the third quarter. Cannell Capital LLC now owns 273,813 shares of the company’s stock valued at $2,922,000 after buying an additional 102,753 shares during the period. Cooke & Bieler LP increased its stake in shares of PGT Innovations by 3.6% in the third quarter. Cooke & Bieler LP now owns 2,087,400 shares of the company’s stock valued at $22,273,000 after buying an additional 72,360 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of PGT Innovations by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,890 shares of the company’s stock valued at $116,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.
About PGT Innovations
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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