Raymond James & Associates increased its holdings in PGT Innovations Inc (NYSE:PGTI) by 27.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,060 shares of the construction company’s stock after purchasing an additional 2,774 shares during the period. Raymond James & Associates’ holdings in PGT Innovations were worth $207,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in PGTI. IFP Advisors Inc boosted its stake in shares of PGT Innovations by 182.2% in the 4th quarter. IFP Advisors Inc now owns 2,822 shares of the construction company’s stock valued at $44,000 after purchasing an additional 1,822 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of PGT Innovations in the 4th quarter valued at $80,000. Quantamental Technologies LLC purchased a new stake in shares of PGT Innovations in the 4th quarter valued at $94,000. Fox Run Management L.L.C. purchased a new stake in shares of PGT Innovations in the 4th quarter valued at $167,000. Finally, Stevens Capital Management LP purchased a new stake in shares of PGT Innovations in the 4th quarter valued at $184,000. 92.31% of the stock is owned by institutional investors.
NYSE:PGTI opened at $14.62 on Wednesday. PGT Innovations Inc has a 52 week low of $13.35 and a 52 week high of $26.40. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.85 and a quick ratio of 2.20. The firm has a market cap of $840.45 million, a P/E ratio of 12.39, a PEG ratio of 0.73 and a beta of 1.01.
PGT Innovations (NYSE:PGTI) last posted its quarterly earnings results on Wednesday, February 27th. The construction company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. PGT Innovations had a net margin of 7.72% and a return on equity of 22.09%. The company had revenue of $189.89 million during the quarter, compared to analyst estimates of $173.39 million. During the same period in the prior year, the business posted $0.18 EPS. The firm’s revenue was up 41.6% compared to the same quarter last year. Equities research analysts expect that PGT Innovations Inc will post 1 EPS for the current fiscal year.
In related news, insider Jeffrey T. Jackson acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $14.35 per share, for a total transaction of $43,050.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard D. Feintuch acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $14.54 per share, with a total value of $58,160.00. Following the completion of the acquisition, the director now directly owns 98,300 shares in the company, valued at approximately $1,429,282. The disclosure for this purchase can be found here. Corporate insiders own 5.80% of the company’s stock.
PGTI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of PGT Innovations from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, January 15th. Wells Fargo & Co lowered shares of PGT Innovations from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. JPMorgan Chase & Co. initiated coverage on shares of PGT Innovations in a report on Tuesday, December 18th. They set a “neutral” rating and a $19.00 price target for the company. ValuEngine lowered shares of PGT Innovations from a “sell” rating to a “strong sell” rating in a report on Thursday, February 28th. Finally, Dougherty & Co reiterated a “buy” rating and set a $22.00 price target (down from $27.00) on shares of PGT Innovations in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.75.
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PGT Innovations Profile
PGT Innovations, Inc manufactures and supplies impact-resistant residential windows and doors in the Southeastern United States, Western United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. It 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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