PGT Innovations (PGTI) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of PGT Innovations (NYSE:PGTI) from a hold rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $21.00 price objective on the construction company’s stock.
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 also recently weighed in on the stock. ValuEngine upgraded shares of PGT Innovations from a hold rating to a buy rating in a report on Thursday, March 1st. SunTrust Banks restated a buy rating and set a $19.00 price target on shares of PGT Innovations in a report on Friday, February 23rd. Dougherty & Co restated a buy rating and set a $19.00 price target (up previously from $18.00) on shares of PGT Innovations in a report on Thursday, February 8th. Royal Bank of Canada restated a buy rating on shares of PGT Innovations in a report on Thursday, November 30th. Finally, B. Riley raised their price target on shares of PGT Innovations from $15.00 to $18.00 and gave the company a buy rating in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. PGT Innovations currently has a consensus rating of Buy and a consensus target price of $18.17.
PGT Innovations (NYSE:PGTI) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $134.10 million for the quarter, compared to the consensus estimate of $118.32 million. PGT Innovations had a net margin of 7.80% and a return on equity of 20.52%. PGT Innovations’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. sell-side analysts forecast that PGT Innovations will post 0.86 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC bought a new position in PGT Innovations in the 4th quarter worth $379,000. Gotham Asset Management LLC bought a new position in PGT Innovations in the 4th quarter worth $354,000. Municipal Employees Retirement System of Michigan raised its holdings in PGT Innovations by 219.5% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 59,230 shares of the construction company’s stock worth $998,000 after acquiring an additional 40,690 shares during the period. Millennium Management LLC raised its holdings in PGT Innovations by 60.3% in the 4th quarter. Millennium Management LLC now owns 51,856 shares of the construction company’s stock worth $874,000 after acquiring an additional 19,503 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in PGT Innovations by 42.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 187,266 shares of the construction company’s stock worth $3,155,000 after acquiring an additional 55,899 shares during the period. Hedge funds and other institutional investors own 88.63% of the company’s stock.
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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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