PGT Innovations Inc (PGTI) Rating Increased to Buy at Dougherty & Co
PGT Innovations Inc (NASDAQ:PGTI) was upgraded by Dougherty & Co from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat reports.
Other equities research analysts have also recently issued reports about the stock. Raymond James Financial, Inc. cut shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Friday, August 4th. KeyCorp reissued a “hold” rating on shares of PGT Innovations in a research report on Tuesday, September 26th. BidaskClub raised shares of PGT Innovations from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. SunTrust Banks, Inc. reissued a “buy” rating on shares of PGT Innovations in a research report on Tuesday, September 12th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $15.00 target price (up from $13.00) on shares of PGT Innovations in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. PGT Innovations currently has an average rating of “Hold” and an average target price of $14.00.
Shares of PGT Innovations (NASDAQ:PGTI) opened at $15.00 on Friday. PGT Innovations has a 1 year low of $9.65 and a 1 year high of $15.20. The company has a debt-to-equity ratio of 1.94, a current ratio of 3.72 and a quick ratio of 2.76.
PGT Innovations (NASDAQ:PGTI) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03). The company had revenue of $126.90 million during the quarter, compared to analyst estimates of $129.82 million. PGT Innovations had a return on equity of 28.98% and a net margin of 7.46%. PGT Innovations’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share.
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In related news, Director Richard D. Feintuch sold 49,459 shares of the stock in a transaction that occurred 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 sale, the director now owns 81,051 shares in the company, valued at approximately $1,069,062.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brett N. Milgrim sold 8,894 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $13.10, for a total transaction of $116,511.40. Following the sale, the director now owns 55,760 shares in the company, valued at approximately $730,456. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of PGTI. State of Alaska Department of Revenue boosted its position in PGT Innovations by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 9,755 shares of the construction company’s stock valued at $124,000 after buying an additional 4,325 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of PGT Innovations during the second quarter valued at $137,000. Citadel Advisors LLC bought a new position in shares of PGT Innovations during the second quarter valued at $147,000. Empirical Finance LLC bought a new position in shares of PGT Innovations during the third quarter valued at $160,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of PGT Innovations during the third quarter valued at $177,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.
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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