PGT Innovations (NYSE:PGTI) Coverage Initiated by Analysts at StockNews.com

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

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

PGT Innovations Price Performance

Shares of NYSE PGTI opened at $41.99 on Thursday. The stock has a market capitalization of $2.40 billion, a PE ratio of 23.07, a P/E/G 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. The firm has a fifty day moving average of $41.82 and a 200-day moving average of $37.66. PGT Innovations has a 52-week low of $22.66 and a 52-week high of $42.00.

PGT Innovations (NYSE:PGTI) last posted its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.11). The firm had revenue of $342.50 million for 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%. PGT Innovations’s revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $0.28 EPS. On average, analysts anticipate that PGT Innovations will post 2.48 EPS for the current year.

Institutional Investors Weigh In On PGT Innovations

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in PGT Innovations by 6.6% in the 3rd quarter. BlackRock Inc. now owns 9,859,162 shares of the construction company’s stock worth $206,646,000 after acquiring an additional 610,447 shares during the period. Vanguard Group Inc. boosted its stake in shares of PGT Innovations by 6.8% in the third quarter. Vanguard Group Inc. now owns 4,261,432 shares of the construction company’s stock valued at $118,255,000 after purchasing an additional 269,699 shares during the period. Wellington Management Group LLP grew its holdings in PGT Innovations by 8.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,573,418 shares of the construction company’s stock valued at $99,162,000 after purchasing an additional 269,891 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in PGT Innovations by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,543,132 shares of the construction company’s stock worth $63,851,000 after buying an additional 69,856 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in PGT Innovations by 0.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,368,006 shares of the construction company’s stock worth $42,576,000 after buying an additional 10,839 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

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.