PGT Innovations (NYSE:PGTI) Receives New Coverage from Analysts at StockNews.com

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

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

PGT Innovations Price Performance

PGTI stock opened at $41.99 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 2.45. PGT Innovations has a 52 week low of $22.66 and a 52 week high of $42.00. The firm’s fifty day moving average is $41.86 and its 200 day moving average is $38.07. The firm has a market cap of $2.40 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.05 and a beta of 1.44.

PGT Innovations (NYSE:PGTI) last released its earnings results on Tuesday, February 20th. The construction company reported $0.25 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 the consensus estimate of $339.15 million. PGT Innovations had a net margin of 7.25% and a return on equity of 18.46%. PGT Innovations’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. Research analysts predict that PGT Innovations will post 2.48 earnings per share for the current year.

Institutional Trading of PGT Innovations

A number of institutional investors and hedge funds have recently bought and sold shares of PGTI. Parkside Financial Bank & Trust grew its stake in shares of PGT Innovations by 367.5% in the third quarter. Parkside Financial Bank & Trust now owns 1,066 shares of the construction company’s stock worth $30,000 after acquiring an additional 838 shares during the period. SRS Capital Advisors Inc. bought a new stake in shares of PGT Innovations in the third quarter worth approximately $44,000. Quest Partners LLC bought a new stake in shares of PGT Innovations in the fourth quarter worth approximately $81,000. PenderFund Capital Management Ltd. bought a new stake in shares of PGT Innovations in the fourth quarter worth approximately $98,000. Finally, USA Financial Formulas grew its stake in shares of PGT Innovations by 2,890.6% in the fourth 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 during the period. 81.60% of the stock is currently 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.