Royce & Associates LP reduced its stake in shares of PGT Innovations Inc (NYSE:PGTI) by 36.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 376,425 shares of the construction company’s stock after selling 217,630 shares during the period. Royce & Associates LP owned approximately 0.65% of PGT Innovations worth $8,131,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cypress Capital Management LLC WY acquired a new position in shares of PGT Innovations during the 2nd quarter worth $138,000. Oppenheimer Asset Management Inc. acquired a new position in PGT Innovations in the 3rd quarter valued at about $214,000. Aperio Group LLC acquired a new position in PGT Innovations in the 2nd quarter valued at about $210,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in PGT Innovations in the 2nd quarter valued at about $220,000. Finally, Acadian Asset Management LLC acquired a new position in PGT Innovations in the 3rd quarter valued at about $238,000. Institutional investors own 88.49% of the company’s stock.
In other news, Director Richard D. Feintuch sold 5,010 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $21.05, for a total transaction of $105,460.50. Following the completion of the transaction, the director now owns 101,810 shares of the company’s stock, valued at approximately $2,143,100.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.80% of the company’s stock.
NYSE PGTI opened at $17.90 on Friday. PGT Innovations Inc has a 12 month low of $14.50 and a 12 month high of $26.40. 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 stock has a market cap of $1.06 billion, a PE ratio of 29.34, a P/E/G ratio of 0.79 and a beta of 0.91.
PGT Innovations (NYSE:PGTI) last posted its quarterly earnings data on Thursday, November 1st. The construction company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.12. PGT Innovations had a net margin of 9.92% and a return on equity of 25.71%. The company had revenue of $199.08 million during the quarter, compared to the consensus estimate of $165.62 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 56.9% compared to the same quarter last year. On average, analysts expect that PGT Innovations Inc will post 1.17 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of PGT Innovations from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Wells Fargo & Co assumed coverage on shares of PGT Innovations in a research note on Thursday, October 4th. They issued an “outperform” rating and a $25.00 target price for the company. Deutsche Bank boosted their target price on shares of PGT Innovations from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, November 5th. Jefferies Financial Group assumed coverage on shares of PGT Innovations in a research note on Thursday, October 4th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Zacks Investment Research downgraded shares of PGT Innovations from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $23.63.
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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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