PGT Innovations (NYSE:PGTI) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com started coverage on shares of PGT Innovations (NYSE:PGTI) in a report released on Friday. The brokerage set a “buy” rating on the construction company’s stock.

Separately, Truist Financial cut their price objective on 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

NYSE PGTI opened at $41.99 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.45 and a quick ratio of 1.61. The stock has a market capitalization of $2.40 billion, a PE ratio of 23.07, a PEG ratio of 1.05 and a beta of 1.44. PGT Innovations has a 1 year low of $22.66 and a 1 year high of $42.00. The business’s 50-day moving average is $41.89 and its 200 day moving average is $38.25.

PGT Innovations (NYSE:PGTI) last posted 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 during the quarter, compared to the consensus estimate of $339.15 million. PGT Innovations had a return on equity of 18.46% and a net margin of 7.25%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. Sell-side analysts forecast that PGT Innovations will post 2.48 earnings per share for the current year.

Institutional Trading of PGT Innovations

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of PGT Innovations by 6.8% during the third quarter. Vanguard Group Inc. now owns 4,261,432 shares of the construction company’s stock valued at $118,255,000 after purchasing an additional 269,699 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of PGT Innovations by 8.2% during the third quarter. Wellington Management Group LLP now owns 3,573,418 shares of the construction company’s stock valued at $99,162,000 after purchasing an additional 269,891 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of PGT Innovations by 7.6% during the fourth quarter. Congress Asset Management Co. MA now owns 1,067,459 shares of the construction company’s stock valued at $43,446,000 after purchasing an additional 75,561 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of PGT Innovations by 0.3% during the third quarter. The Manufacturers Life Insurance Company now owns 1,039,955 shares of the construction company’s stock valued at $28,859,000 after purchasing an additional 3,179 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in shares of PGT Innovations by 1.4% during the fourth quarter. Nomura Holdings Inc. now owns 952,856 shares of the construction company’s stock valued at $38,781,000 after purchasing an additional 13,273 shares during the last quarter. 81.60% of the stock is owned by 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.