PGT Innovations (PGTI) Shares Gap Down to $24.00

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PGT Innovations Inc (NYSE:PGTI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $25.40, but opened at $24.00. PGT Innovations shares last traded at $22.00, with a volume of 4975969 shares trading hands.

Several equities analysts have issued reports on the stock. ValuEngine cut shares of PGT Innovations from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. B. Riley upped their price target on shares of PGT Innovations from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Gabelli cut shares of PGT Innovations from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research report on Thursday, June 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.00.

The company has a current ratio of 4.24, a quick ratio of 3.47 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 1.02 and a beta of 0.84.

PGT Innovations (NYSE:PGTI) last posted its quarterly earnings data on Monday, July 30th. The construction company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. PGT Innovations had a net margin of 9.90% and a return on equity of 26.98%. The company had revenue of $169.27 million during the quarter, compared to analysts’ expectations of $169.00 million. During the same period in the prior year, the company posted $0.20 earnings per share. PGT Innovations’s revenue for the quarter was up 23.2% compared to the same quarter last year. equities research analysts expect that PGT Innovations Inc will post 1.11 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of PGTI. Wells Fargo & Company MN increased its position in shares of PGT Innovations by 194.2% during the first quarter. Wells Fargo & Company MN now owns 231,771 shares of the construction company’s stock worth $4,322,000 after buying an additional 152,988 shares during the period. Swiss National Bank increased its position in shares of PGT Innovations by 3.7% during the first quarter. Swiss National Bank now owns 86,400 shares of the construction company’s stock worth $1,611,000 after buying an additional 3,100 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of PGT Innovations by 5.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 258,724 shares of the construction company’s stock worth $4,826,000 after buying an additional 12,621 shares during the period. US Bancorp DE increased its position in shares of PGT Innovations by 7.2% during the first quarter. US Bancorp DE now owns 56,135 shares of the construction company’s stock worth $1,047,000 after buying an additional 3,776 shares during the period. Finally, KBC Group NV acquired a new stake in shares of PGT Innovations during the first quarter worth $705,000. Institutional investors own 89.73% of the company’s stock.

PGT Innovations Company Profile (NYSE:PGTI)

PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company 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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