StockNews.com Begins Coverage on PGT Innovations (NYSE:PGTI)

StockNews.com began coverage on shares of PGT Innovations (NYSE:PGTI) in a report issued on Saturday. The firm set a “buy” rating on the construction company’s stock.

Separately, Truist Financial reduced their price target on shares of 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

Shares of PGTI stock opened at $41.99 on Friday. The stock’s fifty day simple moving average is $41.93 and its 200 day simple moving average is $38.67. PGT Innovations has a one year low of $22.66 and a one year high of $42.00. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 1.05 and a beta of 1.44. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.45 and a quick ratio of 1.61.

PGT Innovations (NYSE:PGTI) last issued 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). PGT Innovations had a net margin of 7.25% and a return on equity of 18.46%. The firm had revenue of $342.50 million during the quarter, compared to analyst estimates of $339.15 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts expect that PGT Innovations will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PGT Innovations

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates lifted its position in PGT Innovations by 3.4% during the 3rd quarter. Raymond James & Associates now owns 68,102 shares of the construction company’s stock worth $1,890,000 after buying an additional 2,247 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PGT Innovations by 27.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,679 shares of the construction company’s stock worth $269,000 after purchasing an additional 2,075 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of PGT Innovations by 8.1% during the third quarter. Mackenzie Financial Corp now owns 10,759 shares of the construction company’s stock valued at $290,000 after purchasing an additional 804 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of PGT Innovations by 3.7% in the third quarter. Inspire Investing LLC now owns 11,147 shares of the construction company’s stock valued at $309,000 after purchasing an additional 397 shares in the last quarter. Finally, Cambiar Investors LLC raised its position in PGT Innovations by 0.4% in the 3rd quarter. Cambiar Investors LLC now owns 91,761 shares of the construction company’s stock worth $2,546,000 after purchasing an additional 396 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

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.