PGT Innovations Inc (PGTI) Cut to Sell at BidaskClub
BidaskClub lowered shares of PGT Innovations Inc (NASDAQ:PGTI) from a hold rating to a sell rating in a research report sent to investors on Thursday.
Several other research analysts have also issued reports on the stock. Royal Bank Of Canada reissued a buy rating and set a $13.00 target price on shares of PGT Innovations in a research note on Friday, May 5th. Zacks Investment Research raised shares of PGT Innovations from a sell rating to a hold rating in a research note on Tuesday, May 9th. TheStreet raised shares of PGT Innovations from a c+ rating to a b- rating in a research note on Thursday, June 22nd. FBR & Co reissued a buy rating and set a $15.00 target price (up from $13.00) on shares of PGT Innovations in a research note on Monday, August 21st. Finally, Raymond James Financial, Inc. lowered shares of PGT Innovations from an outperform rating to a market perform rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. PGT Innovations currently has a consensus rating of Hold and a consensus price target of $14.00.
Shares of PGT Innovations (PGTI) opened at 12.90 on Thursday. The firm has a 50-day moving average price of $12.96 and a 200-day moving average price of $11.67. PGT Innovations has a 52-week low of $9.50 and a 52-week high of $13.85. The firm has a market capitalization of $639.87 million, a P/E ratio of 23.08 and a beta of 0.93.
PGT Innovations (NASDAQ:PGTI) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The business had revenue of $137.38 million for the quarter, compared to analyst estimates of $127.79 million. PGT Innovations had a net margin of 2.66% and a return on equity of 8.95%. PGT Innovations’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. On average, equities research analysts anticipate that PGT Innovations will post $0.60 EPS for the current year.
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In other PGT Innovations news, Director Brett N. Milgrim sold 8,322 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $13.33, for a total value of $110,932.26. Following the transaction, the director now directly owns 64,654 shares of the company’s stock, valued at $861,837.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard D. Feintuch sold 49,459 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $13.19, for a total transaction of $652,364.21. Following the completion of the transaction, the director now directly owns 81,051 shares in the company, valued at $1,069,062.69. The disclosure for this sale can be found here. Insiders sold 66,675 shares of company stock worth $879,808 over the last ninety days. Insiders own 6.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ACK Asset Management LLC acquired a new position in PGT Innovations during the first quarter worth $13,541,000. Lazard Asset Management LLC raised its position in PGT Innovations by 12.2% in the second quarter. Lazard Asset Management LLC now owns 2,989,820 shares of the construction company’s stock worth $38,269,000 after buying an additional 325,137 shares during the period. Cooke & Bieler LP raised its position in PGT Innovations by 12.7% in the first quarter. Cooke & Bieler LP now owns 2,670,640 shares of the construction company’s stock worth $28,709,000 after buying an additional 300,870 shares during the period. Systematic Financial Management LP acquired a new position in PGT Innovations during the first quarter worth $2,240,000. Finally, Capital Research Global Investors acquired a new position in PGT Innovations during the second quarter worth $2,041,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.
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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