PGT Innovations (NYSE:PGTI) Earns Buy Rating from Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of PGT Innovations (NYSE:PGTI) in a research report issued to clients and investors on Friday. The firm set a “buy” rating on the construction company’s stock.

Separately, Truist Financial decreased their target price on shares of PGT Innovations from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, January 18th.

PGT Innovations Price Performance

Shares of NYSE PGTI opened at $41.99 on Friday. The firm’s 50-day moving average price is $41.89 and its 200-day moving average price is $38.25. The company has a current ratio of 2.45, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 1.05 and a beta of 1.44. PGT Innovations has a 12-month low of $22.66 and a 12-month high of $42.00.

PGT Innovations (NYSE:PGTI) last announced its earnings results on Tuesday, February 20th. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.11). The business 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%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, equities research analysts anticipate that PGT Innovations will post 2.48 EPS for the current fiscal year.

Institutional Trading of PGT Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its position in PGT Innovations by 367.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,066 shares of the construction company’s stock worth $30,000 after purchasing an additional 838 shares during the period. SRS Capital Advisors Inc. bought a new position in PGT Innovations in the 3rd quarter worth about $44,000. Quest Partners LLC bought a new position in PGT Innovations in the 4th quarter worth about $81,000. PenderFund Capital Management Ltd. bought a new position in PGT Innovations in the 4th quarter worth about $98,000. Finally, USA Financial Formulas grew its stake in PGT Innovations by 2,890.6% in the 4th quarter. USA Financial Formulas now owns 3,499 shares of the construction company’s stock worth $142,000 after acquiring an additional 3,382 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

About PGT Innovations

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.