First Trust Advisors LP purchased a new stake in PGT Innovations Inc (NYSE:PGTI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 158,729 shares of the construction company’s stock, valued at approximately $2,516,000. First Trust Advisors LP owned 0.27% of PGT Innovations at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. IFP Advisors Inc increased its position in PGT Innovations by 182.2% during the 4th quarter. IFP Advisors Inc now owns 2,822 shares of the construction company’s stock worth $44,000 after buying an additional 1,822 shares during the period. Quantamental Technologies LLC bought a new position in PGT Innovations during the 4th quarter worth $94,000. Fox Run Management L.L.C. bought a new position in PGT Innovations during the 4th quarter worth $167,000. Stevens Capital Management LP bought a new position in PGT Innovations during the 4th quarter worth $184,000. Finally, Acadian Asset Management LLC bought a new position in PGT Innovations during the 3rd quarter worth $238,000. Institutional investors and hedge funds own 92.64% of the company’s stock.
Several research analysts have weighed in on the company. Zacks Investment Research cut PGT Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Dougherty & Co reiterated a “buy” rating and set a $22.00 price objective (down previously from $27.00) on shares of PGT Innovations in a research report on Thursday, February 28th. Wells Fargo & Co cut PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 28th. ValuEngine cut PGT Innovations from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 28th. Finally, JPMorgan Chase & Co. assumed coverage on PGT Innovations in a research report on Tuesday, December 18th. They set a “neutral” rating and a $19.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.75.
In related news, insider Jeffrey T. Jackson bought 3,000 shares of PGT Innovations stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $14.35 per share, with a total value of $43,050.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard D. Feintuch bought 4,000 shares of PGT Innovations stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $14.54 per share, for a total transaction of $58,160.00. Following the completion of the acquisition, the director now owns 98,300 shares in the company, valued at approximately $1,429,282. The disclosure for this purchase can be found here. Corporate insiders own 5.80% of the company’s stock.
PGTI opened at $14.27 on Friday. The firm has a market cap of $828.84 million, a PE ratio of 12.09, a P/E/G ratio of 0.74 and a beta of 1.03. PGT Innovations Inc has a 52-week low of $13.94 and a 52-week high of $26.40. The company has a current ratio of 2.85, a quick ratio of 2.20 and a debt-to-equity ratio of 0.95.
PGT Innovations (NYSE:PGTI) last released its earnings results on Wednesday, February 27th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $189.89 million for the quarter, compared to analyst estimates of $173.39 million. PGT Innovations had a return on equity of 22.09% and a net margin of 7.72%. PGT Innovations’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Equities analysts forecast that PGT Innovations Inc will post 1 earnings per share for the current year.
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PGT Innovations Profile
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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