PGT Innovations’ (PGTI) Buy Rating Reiterated at Royal Bank Of Canada

PGT Innovations, Inc. (NYSE:PGTI)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank Of Canada in a research note issued on Wednesday. They currently have a $17.00 target price on the construction company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 10.75% from the company’s current price.

A number of other brokerages have also weighed in on PGTI. B. Riley reissued a “buy” rating on shares of PGT Innovations in a research report on Wednesday, November 1st. Raymond James Financial, Inc. lowered PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Friday, August 4th. FBR & Co reissued a “buy” rating and issued a $15.00 target price (up previously from $13.00) on shares of PGT Innovations in a research report on Monday, August 21st. KeyCorp reissued a “hold” rating on shares of PGT Innovations in a research report on Tuesday, September 26th. Finally, BidaskClub raised PGT Innovations from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $16.00.

PGT Innovations (NYSE:PGTI) opened at $15.35 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.76 and a current ratio of 3.72. PGT Innovations has a 52-week low of $10.00 and a 52-week high of $15.38.

PGT Innovations (NYSE:PGTI) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $126.90 million during the quarter, compared to analysts’ expectations of $129.82 million. PGT Innovations had a return on equity of 28.98% and a net margin of 7.46%. PGT Innovations’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS.

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Several institutional investors have recently added to or reduced their stakes in PGTI. Gamco Investors INC. ET AL grew its stake in shares of PGT Innovations by 40.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 34,600 shares of the construction company’s stock valued at $443,000 after acquiring an additional 10,000 shares during the period. Capital Research Global Investors bought a new position in shares of PGT Innovations during the 2nd quarter valued at approximately $2,041,000. Schwab Charles Investment Management Inc. grew its stake in shares of PGT Innovations by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 209,171 shares of the construction company’s stock valued at $2,249,000 after acquiring an additional 11,238 shares during the period. Vanguard Group Inc. grew its stake in shares of PGT Innovations by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 2,503,414 shares of the construction company’s stock valued at $26,912,000 after acquiring an additional 140,242 shares during the period. Finally, TD Asset Management Inc. boosted its stake in PGT Innovations by 6.0% in the 2nd quarter. TD Asset Management Inc. now owns 59,005 shares of the construction company’s stock worth $755,000 after purchasing an additional 3,316 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.

About PGT Innovations

PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.

Analyst Recommendations for PGT Innovations (NYSE:PGTI)

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