Ply Gem Holdings Shares Gap Up Following Insider Buying Activity (PGEM)
Ply Gem Holdings (NASDAQ:PGEM) gapped up prior to trading on Friday following insider buying activity, Analyst Ratings Network.com reports. The stock had previously closed at $11.58, but opened at $11.62. Ply Gem Holdings shares last traded at $11.74, with a volume of 128,889 shares trading hands.
Specifically, Director Frederick J. Iseman acquired 25,000 shares of the stock on the open market in a transaction dated Wednesday, August 27th. The shares were purchased at an average price of $11.32 per share, for a total transaction of $283,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on PGEM. Analysts at Imperial Capital raised their price target on shares of Ply Gem Holdings from $10.00 to $10.50 in a research note on Tuesday, August 12th. They now have an “in-line” rating on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Ply Gem Holdings in a research note on Monday, August 11th. They now have a $10.50 price target on the stock, down previously from $12.00. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Ply Gem Holdings from $13.00 to $11.50 in a research note on Friday, August 8th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Ply Gem Holdings presently has an average rating of “Hold” and a consensus price target of $13.50.
The stock’s 50-day moving average is $9.59 and its 200-day moving average is $11.38. The company’s market cap is $792.4 million.
Ply Gem Holdings (NASDAQ:PGEM) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.17 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.17. The company had revenue of $409.20 million for the quarter, compared to the consensus estimate of $404.45 million. Ply Gem Holdings’s revenue was up 11.2% compared to the same quarter last year. Analysts expect that Ply Gem Holdings will post $0.16 EPS for the current fiscal year.
Ply Gem Holdings, Inc (NASDAQ:PGEM) is a manufacturer of residential exterior building products in North America.
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