PGT Inc. (PGTI) Stock Rating Lowered by Zacks Investment Research
PGT Inc. (NASDAQ:PGTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
Separately, FBR & Co restated a “buy” rating on shares of PGT in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $13.93.
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PGT (NASDAQ:PGTI) traded down 4.049% on Wednesday, reaching $11.255. The company had a trading volume of 1,377,466 shares. The stock has a market capitalization of $550.88 million, a P/E ratio of 30.419 and a beta of 0.85. The stock’s 50-day moving average price is $11.34 and its 200-day moving average price is $10.85. PGT has a 12-month low of $8.69 and a 12-month high of $14.05.
PGT (NASDAQ:PGTI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. PGT had a return on equity of 23.68% and a net margin of 4.59%. The firm earned $119 million during the quarter, compared to analysts’ expectations of $124.29 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts anticipate that PGT will post $0.54 EPS for the current fiscal year.
In related news, Chairman Rodney Hershberger sold 15,697 shares of PGT stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $12.02, for a total value of $188,677.94. Following the completion of the sale, the chairman now owns 974,040 shares of the company’s stock, valued at $11,707,960.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.50% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in shares of PGT by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the company’s stock valued at $222,000 after buying an additional 100 shares during the last quarter. Rhumbline Advisers raised its stake in PGT by 0.4% in the second quarter. Rhumbline Advisers now owns 55,836 shares of the company’s stock valued at $575,000 after buying an additional 207 shares in the last quarter. Arizona State Retirement System raised its stake in PGT by 1.2% in the first quarter. Arizona State Retirement System now owns 24,935 shares of the company’s stock valued at $245,000 after buying an additional 300 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in PGT by 0.5% in the second quarter. Parametric Portfolio Associates LLC now owns 85,512 shares of the company’s stock valued at $881,000 after buying an additional 412 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in PGT by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 235,372 shares of the company’s stock valued at $2,424,000 after buying an additional 1,030 shares in the last quarter. 95.74% of the stock is owned by institutional investors.
PGT, Inc is a manufacturer and supplier of residential impact-resistant windows and doors. The Company operates through the manufacture and sale of windows and doors segment. The Company’s impact-resistant products are marketed under the WinGuard, PremierVue, PGT Architectural Systems and PGT Commercial Storefront System brand names, combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris.
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