Hsbc Holdings PLC cut its holdings in shares of PGT Innovations Inc (NYSE:PGTI) by 43.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 277,315 shares of the construction company’s stock after selling 212,148 shares during the period. Hsbc Holdings PLC owned approximately 0.48% of PGT Innovations worth $5,988,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Greenwood Capital Associates LLC lifted its stake in PGT Innovations by 11.1% during the third quarter. Greenwood Capital Associates LLC now owns 24,917 shares of the construction company’s stock valued at $538,000 after purchasing an additional 2,495 shares during the last quarter. Alambic Investment Management L.P. lifted its stake in PGT Innovations by 5.4% during the second quarter. Alambic Investment Management L.P. now owns 49,200 shares of the construction company’s stock valued at $1,026,000 after purchasing an additional 2,500 shares during the last quarter. Rhumbline Advisers lifted its stake in PGT Innovations by 2.3% during the third quarter. Rhumbline Advisers now owns 120,496 shares of the construction company’s stock valued at $2,603,000 after purchasing an additional 2,696 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in PGT Innovations by 14.3% during the third quarter. Louisiana State Employees Retirement System now owns 25,600 shares of the construction company’s stock valued at $553,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in PGT Innovations by 30.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,826 shares of the construction company’s stock valued at $299,000 after purchasing an additional 3,254 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on PGTI. ValuEngine lowered shares of PGT Innovations from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Wells Fargo & Co started coverage on shares of PGT Innovations in a research report on Thursday, October 4th. They issued an “outperform” rating and a $25.00 price target for the company. Deutsche Bank upped their price target on shares of PGT Innovations from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Jefferies Financial Group started coverage on shares of PGT Innovations in a research report on Thursday, October 4th. They issued a “buy” rating and a $27.00 price target for the company. Finally, Zacks Investment Research downgraded shares of PGT Innovations from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.63.
Shares of NYSE:PGTI opened at $17.90 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.82 and a quick ratio of 2.16. The company has a market capitalization of $1.06 billion, a P/E ratio of 15.81, a PEG ratio of 0.79 and a beta of 0.91. PGT Innovations Inc has a 52 week low of $14.50 and a 52 week high of $26.40.
PGT Innovations (NYSE:PGTI) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The business had revenue of $199.08 million during the quarter, compared to the consensus estimate of $165.62 million. PGT Innovations had a net margin of 9.92% and a return on equity of 25.71%. The firm’s quarterly revenue was up 56.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, research analysts expect that PGT Innovations Inc will post 1.17 earnings per share for the current year.
In related news, Director Richard D. Feintuch sold 5,010 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $21.05, for a total value of $105,460.50. Following the completion of the sale, the director now owns 101,810 shares in the company, valued at approximately $2,143,100.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.
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About PGT Innovations
PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.
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