Zacks Investment Research Upgrades Ply Gem (PGEM) to Buy

Ply Gem (NYSE:PGEM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $24.00 price objective on the construction company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.11% from the stock’s current price.

According to Zacks, “Ply Gem Holdings Inc. is engaged in manufacturing and selling exterior building products primarily in the United States and Canada. Its business segment consists of: Siding, Fencing, and Stone and Windows and Doors. The Company offers vinyl siding, designer accents, cellular PVC trim, vinyl fencing, vinyl and composite railing, stone veneer and vinyl windows and doors. Its brand name include Variform(R), Napco(R), Mastic Home Exteriors(R), Cellwood(R), Kroy and Kroy Express(R), Ply Gem Stone(R), Georgia-Pacific and Durabuilt (R), Ply Gem Windows(R), Great Lakes Window(R). The company serves residential and commercial construction, manufactured housing, professional remodelling and renovation markets. Ply Gem Holdings Inc. is headquartered in Cary, North Carolina. “

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PGEM has been the subject of several other reports. Royal Bank of Canada cut shares of Ply Gem from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. ValuEngine raised shares of Ply Gem from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

PGEM stock remained flat at $$21.60 during midday trading on Wednesday. 61,955 shares of the company’s stock traded hands, compared to its average volume of 599,174. The company has a debt-to-equity ratio of 10.08, a current ratio of 1.72 and a quick ratio of 1.12. Ply Gem has a 52 week low of $14.55 and a 52 week high of $22.20. The stock has a market cap of $1,480.82, a PE ratio of 22.27 and a beta of 2.36.

Ply Gem (NYSE:PGEM) last issued its quarterly earnings results on Monday, March 5th. The construction company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). The business had revenue of $516.86 million during the quarter, compared to analysts’ expectations of $494.93 million. Ply Gem had a net margin of 3.32% and a return on equity of 144.46%. sell-side analysts predict that Ply Gem will post 1.49 earnings per share for the current fiscal year.

In other news, insider John L. Buckley sold 32,725 shares of Ply Gem stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $22.00, for a total transaction of $719,950.00. Following the completion of the sale, the insider now directly owns 32,724 shares of the company’s stock, valued at approximately $719,928. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 68.90% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Balter Liquid Alternatives LLC raised its stake in Ply Gem by 30.9% during the 4th quarter. Balter Liquid Alternatives LLC now owns 16,031 shares of the construction company’s stock worth $297,000 after acquiring an additional 3,783 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Ply Gem by 1.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 270,193 shares of the construction company’s stock worth $4,607,000 after acquiring an additional 4,021 shares in the last quarter. Principal Financial Group Inc. raised its stake in Ply Gem by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 205,608 shares of the construction company’s stock worth $3,506,000 after acquiring an additional 4,921 shares in the last quarter. Royce & Associates LP raised its stake in Ply Gem by 0.9% during the 4th quarter. Royce & Associates LP now owns 559,911 shares of the construction company’s stock worth $10,358,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Ply Gem by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 89,988 shares of the construction company’s stock worth $1,665,000 after acquiring an additional 5,655 shares in the last quarter. Hedge funds and other institutional investors own 29.34% of the company’s stock.

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About Ply Gem

Ply Gem Holdings, Inc manufactures and sells residential and commercial building products in the United States and Canada. It operates in two segments: Siding, Fencing, and Stone; and Windows and Doors. The Siding, Fencing, and Stone segment offers vinyl siding and skirting, steel siding, vinyl and aluminum soffit, aluminum trim and gutter coil, fabricated aluminum gutter, aluminum and steel roofing accessory, cellular polyvinyl chloride trim and moulding, J-channel, wide crown molding, window and door trim, F-channel, H-mold, fascia, undersill trim, outside/inside corner post, rain removal system, vinyl fence and railing, engineered slate and cedar shake roofing, and stone veneer products.

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