Brokerages Set PGT Innovations Inc (PGTI) Target Price at $14.00
PGT Innovations Inc (NASDAQ:PGTI) has earned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.00.
Several equities analysts recently issued reports on the company. BidaskClub cut PGT Innovations from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. FBR & Co restated a “buy” rating and issued a $15.00 price target (up previously from $13.00) on shares of PGT Innovations in a research report on Monday, August 21st. Raymond James Financial, Inc. cut PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Friday, August 4th. TheStreet upgraded PGT Innovations from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $13.00 target price on shares of PGT Innovations in a research report on Monday, May 15th.
In other PGT Innovations news, Director Richard D. Feintuch sold 49,459 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $13.19, for a total transaction of $652,364.21. Following the transaction, the director now owns 81,051 shares in the company, valued at approximately $1,069,062.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brett N. Milgrim sold 8,322 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $13.33, for a total value of $110,932.26. Following the transaction, the director now owns 64,654 shares in the company, valued at approximately $861,837.82. The disclosure for this sale can be found here. Insiders have sold a total of 66,675 shares of company stock worth $879,808 in the last quarter. 6.50% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new position in PGT Innovations during the second quarter valued at about $137,000. The Manufacturers Life Insurance Company boosted its position in PGT Innovations by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 39,331 shares of the construction company’s stock valued at $504,000 after buying an additional 1,278 shares during the last quarter. State Street Corp boosted its position in PGT Innovations by 7.0% in the second quarter. State Street Corp now owns 1,151,849 shares of the construction company’s stock valued at $14,745,000 after buying an additional 75,132 shares during the last quarter. Macquarie Group Ltd. boosted its position in PGT Innovations by 0.8% in the second quarter. Macquarie Group Ltd. now owns 128,064 shares of the construction company’s stock valued at $1,639,000 after buying an additional 973 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in PGT Innovations during the second quarter valued at about $2,041,000. Institutional investors own 96.80% of the company’s stock.
PGT Innovations (NASDAQ PGTI) traded up 1.14% during mid-day trading on Tuesday, reaching $13.35. The company had a trading volume of 147,301 shares. PGT Innovations has a 12 month low of $9.50 and a 12 month high of $13.85. The company has a market capitalization of $662.19 million, a price-to-earnings ratio of 23.88 and a beta of 0.93. The firm’s 50 day moving average price is $13.00 and its 200-day moving average price is $11.71.
PGT Innovations (NASDAQ:PGTI) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm had revenue of $137.38 million for the quarter, compared to analysts’ expectations of $127.79 million. PGT Innovations had a return on equity of 28.98% and a net margin of 7.46%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. Equities research analysts anticipate that PGT Innovations will post $0.60 earnings per share for the current year.
PGT Innovations Company Profile
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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