StockNews.com Begins Coverage on PGT Innovations (NYSE:PGTI)

StockNews.com began coverage on shares of PGT Innovations (NYSE:PGTI) in a research report report published on Saturday. The brokerage issued a buy rating on the construction company’s stock.

Separately, Truist Financial reduced their price objective on PGT Innovations from $43.00 to $42.00 and set a hold rating on the stock in a research note on Thursday, January 18th.

PGT Innovations Stock Performance

NYSE:PGTI opened at $41.99 on Friday. The company has a market capitalization of $2.40 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. The company has a quick ratio of 1.61, a current ratio of 2.45 and a debt-to-equity ratio of 0.93. PGT Innovations has a 52-week low of $22.66 and a 52-week high of $42.00. The stock has a fifty day simple moving average of $41.94 and a 200-day simple moving average of $38.75.

PGT Innovations (NYSE:PGTI) last posted its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.11). The business had revenue of $342.50 million during the quarter, compared to analysts’ expectations of $339.15 million. PGT Innovations had a net margin of 7.25% and a return on equity of 18.46%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. On average, equities research analysts expect that PGT Innovations will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PGT Innovations

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in PGT Innovations by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,261,432 shares of the construction company’s stock worth $118,255,000 after acquiring an additional 269,699 shares during the period. Boston Partners purchased a new position in PGT Innovations in the 3rd quarter worth approximately $12,880,000. Wellington Management Group LLP boosted its holdings in PGT Innovations by 8.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,573,418 shares of the construction company’s stock worth $99,162,000 after acquiring an additional 269,891 shares during the period. Illinois Municipal Retirement Fund purchased a new position in PGT Innovations in the 3rd quarter worth approximately $998,000. Finally, First Eagle Investment Management LLC boosted its holdings in PGT Innovations by 25.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 105,216 shares of the construction company’s stock worth $2,920,000 after acquiring an additional 21,326 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

PGT Innovations Company Profile

PGT Innovations, Inc, together with its subsidiaries, engages in the manufacture and supply of impact-resistant aluminum frame windows and doors in the United States and internationally. The company provides heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact resistant vinyl windows with insulating glass and multi-chambered frames for various climate zones.