PGT Innovations (NYSE:PGTI) Upgraded at Gabelli

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Gabelli upgraded shares of PGT Innovations (NYSE:PGTI) from a hold rating to a buy rating in a report released on Friday morning, BenzingaRatingsTable reports. Gabelli currently has $22.00 target price on the construction company’s stock. Gabelli also issued estimates for PGT Innovations’ FY2019 earnings at $0.95 EPS and FY2020 earnings at $1.05 EPS.

Several other brokerages have also recently commented on PGTI. ValuEngine cut shares of PGT Innovations from a hold rating to a sell rating in a research note on Tuesday, July 2nd. KeyCorp raised their target price on shares of PGT Innovations from $20.00 to $22.00 and gave the company an overweight rating in a report on Monday, May 6th. Finally, Zacks Investment Research downgraded shares of PGT Innovations from a buy rating to a hold rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. PGT Innovations has an average rating of Hold and a consensus target price of $22.88.

Shares of NYSE PGTI opened at $14.40 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.99 and a quick ratio of 2.28. PGT Innovations has a 52 week low of $13.30 and a 52 week high of $26.40. The company has a 50-day moving average of $16.17. The firm has a market capitalization of $836.74 million, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

PGT Innovations (NYSE:PGTI) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. PGT Innovations had a net margin of 6.48% and a return on equity of 15.36%. The firm had revenue of $199.00 million during the quarter, compared to analysts’ expectations of $206.34 million. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Research analysts forecast that PGT Innovations will post 0.97 earnings per share for the current fiscal year.

In other PGT Innovations news, Director Rodney Hershberger sold 11,830 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $16.29, for a total transaction of $192,710.70. Following the completion of the transaction, the director now directly owns 1,207,630 shares in the company, valued at approximately $19,672,292.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 59,025 shares of company stock valued at $923,460 over the last 90 days. 4.60% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of PGTI. Geode Capital Management LLC grew its holdings in shares of PGT Innovations by 16.9% during the fourth quarter. Geode Capital Management LLC now owns 609,234 shares of the construction company’s stock worth $9,656,000 after buying an additional 88,297 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of PGT Innovations by 2.4% during the fourth quarter. Principal Financial Group Inc. now owns 511,376 shares of the construction company’s stock worth $8,105,000 after buying an additional 12,133 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of PGT Innovations by 250.9% during the fourth quarter. Deutsche Bank AG now owns 355,828 shares of the construction company’s stock worth $5,638,000 after buying an additional 254,434 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of PGT Innovations by 1.9% during the fourth quarter. Macquarie Group Ltd. now owns 82,778 shares of the construction company’s stock worth $1,312,000 after buying an additional 1,552 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of PGT Innovations during the fourth quarter worth about $4,769,000. Hedge funds and other institutional investors own 88.33% of the company’s stock.

About PGT Innovations

PGT Innovations, Inc manufactures and supplies impact-resistant residential windows and doors in the Southeastern United States, Western United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. It 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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Analyst Recommendations for PGT Innovations (NYSE:PGTI)

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