PGT Innovations (PGTI) Shares Gap Down to $24.00

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PGT Innovations Inc (NYSE:PGTI) shares gapped down before the market opened 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.

PGTI has been the subject of several analyst reports. Gabelli cut PGT Innovations from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Thursday, June 14th. They noted that the move was a valuation call. B. Riley upped their price objective on PGT Innovations from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. PGT Innovations has a consensus rating of “Buy” and a consensus target price of $21.00.

The stock has a market capitalization of $1.25 billion, a PE ratio of 26.12, a PEG ratio of 1.17 and a beta of 0.84. The company has a quick ratio of 3.47, a current ratio of 4.24 and a debt-to-equity ratio of 1.03.

PGT Innovations (NYSE:PGTI) last released its quarterly earnings data on Monday, July 30th. The construction company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. The business had revenue of $169.27 million during the quarter, compared to analysts’ expectations of $169.00 million. PGT Innovations had a return on equity of 26.98% and a net margin of 9.90%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. research analysts predict that PGT Innovations Inc will post 1.09 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of PGT Innovations by 12.4% during the 2nd quarter. Victory Capital Management Inc. now owns 20,483 shares of the construction company’s stock worth $427,000 after acquiring an additional 2,267 shares in the last quarter. Alambic Investment Management L.P. lifted its holdings in shares of PGT Innovations by 5.4% in the 2nd quarter. Alambic Investment Management L.P. now owns 49,200 shares of the construction company’s stock valued at $1,026,000 after purchasing an additional 2,500 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of PGT Innovations by 27.2% in the 1st quarter. Citigroup Inc. now owns 14,236 shares of the construction company’s stock valued at $265,000 after purchasing an additional 3,042 shares during the last quarter. Swiss National Bank lifted its holdings in shares of PGT Innovations by 3.7% in the 1st quarter. Swiss National Bank now owns 86,400 shares of the construction company’s stock valued at $1,611,000 after purchasing an additional 3,100 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of PGT Innovations by 7.2% in the 1st quarter. US Bancorp DE now owns 56,135 shares of the construction company’s stock valued at $1,047,000 after purchasing an additional 3,776 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

About PGT Innovations (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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