PGT Innovations (NYSE:PGTI) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of PGT Innovations (NYSE:PGTI) from a sell rating to a hold rating in a report published on Wednesday, 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. “

Other analysts also recently issued reports about the stock. Gabelli upgraded shares of PGT Innovations from a hold rating to a buy rating and set a $22.00 target price on the stock in a report on Friday, August 2nd. ValuEngine raised shares of PGT Innovations from a hold rating to a buy rating in a research note on Wednesday. Finally, G.Research reaffirmed a buy rating on shares of PGT Innovations in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $21.83.

Shares of NYSE:PGTI traded up $0.28 during mid-day trading on Wednesday, reaching $17.70. The stock had a trading volume of 54,457 shares, compared to its average volume of 375,408. The firm has a market cap of $1.04 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. The firm has a 50 day simple moving average of $16.09 and a two-hundred day simple moving average of $15.46. The company has a current ratio of 2.99, a quick ratio of 2.40 and a debt-to-equity ratio of 0.95. PGT Innovations has a twelve month low of $13.30 and a twelve month high of $24.16.

PGT Innovations (NYSE:PGTI) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $199.00 million for the quarter, compared to the consensus estimate of $206.34 million. PGT Innovations had a net margin of 6.48% and a return on equity of 15.36%. PGT Innovations’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. On average, equities analysts anticipate that PGT Innovations will post 0.93 EPS for the current fiscal year.

In related news, Director Rodney Hershberger sold 11,830 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $16.29, for a total value of $192,710.70. Following the completion of the transaction, the director now directly owns 1,207,630 shares of the company’s stock, valued at $19,672,292.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brent Boydston bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $14.00 per share, with a total value of $28,000.00. Following the completion of the purchase, the vice president now directly owns 25,176 shares of the company’s stock, valued at approximately $352,464. The disclosure for this purchase can be found here. Insiders have sold a total of 47,415 shares of company stock valued at $729,675 over the last ninety days. Company insiders own 5.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new stake in PGT Innovations during the 2nd quarter valued at $73,000. Redhawk Wealth Advisors Inc. acquired a new stake in PGT Innovations during the 2nd quarter valued at $79,000. Bank of Montreal Can lifted its holdings in PGT Innovations by 18.8% during the 2nd quarter. Bank of Montreal Can now owns 5,956 shares of the construction company’s stock valued at $100,000 after purchasing an additional 944 shares during the last quarter. Creative Planning acquired a new stake in PGT Innovations during the 2nd quarter valued at $173,000. Finally, NumerixS Investment Technologies Inc lifted its holdings in PGT Innovations by 48.7% during the 1st quarter. NumerixS Investment Technologies Inc now owns 10,426 shares of the construction company’s stock valued at $146,000 after purchasing an additional 3,413 shares during the last quarter. 90.97% of the stock is owned by institutional investors and hedge funds.

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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