PGT Innovations (PGTI) Downgraded to Hold at Zacks Investment Research

PGT Innovations (NYSE:PGTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, 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 commented on the company. ValuEngine raised PGT Innovations from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. KeyCorp raised their price target on PGT Innovations from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Dougherty & Co reissued a “buy” rating and set a $22.00 price target (down from $27.00) on shares of PGT Innovations in a report on Thursday, February 28th. Finally, Wells Fargo & Co lowered PGT Innovations from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.33.

Shares of NYSE PGTI opened at $15.13 on Friday. PGT Innovations has a 1-year low of $13.35 and a 1-year high of $26.40. The company has a current ratio of 3.03, a quick ratio of 2.28 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $881.63 million, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.12 and a beta of 1.01.

PGT Innovations (NYSE:PGTI) last issued its earnings results on Thursday, May 2nd. The construction company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. PGT Innovations had a return on equity of 18.46% and a net margin of 7.49%. The firm had revenue of $174.00 million for the quarter, compared to analyst estimates of $175.14 million. During the same period last year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. Sell-side analysts anticipate that PGT Innovations will post 1.01 EPS for the current fiscal year.

In related news, Director Rodney Hershberger sold 23,690 shares of PGT Innovations stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $15.13, for a total transaction of $358,429.70. Following the transaction, the director now directly owns 1,150,200 shares of the company’s stock, valued at $17,402,526. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey T. Jackson bought 3,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $43,050.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 52,043 shares of company stock worth $769,503. 5.80% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings in PGT Innovations by 182.2% during the fourth quarter. IFP Advisors Inc now owns 2,822 shares of the construction company’s stock worth $44,000 after acquiring an additional 1,822 shares during the period. AlphaOne Investment Services LLC acquired a new position in PGT Innovations during the first quarter worth about $46,000. Advisor Group Inc. boosted its position in shares of PGT Innovations by 61.6% in the 4th quarter. Advisor Group Inc. now owns 3,831 shares of the construction company’s stock valued at $62,000 after purchasing an additional 1,460 shares during the period. Bruderman Asset Management LLC acquired a new position in shares of PGT Innovations in the 4th quarter valued at $80,000. Finally, Quantamental Technologies LLC acquired a new position in shares of PGT Innovations in the 4th quarter valued at $94,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

PGT Innovations Company Profile

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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