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

Investment analysts at StockNews.com initiated coverage on shares of PGT Innovations (NYSE:PGTI) in a note issued to investors on Saturday. The brokerage set a “buy” rating on the construction company’s stock.

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

PGT Innovations Stock Performance

Shares of PGTI stock opened at $41.99 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.45 and a debt-to-equity ratio of 0.93. PGT Innovations has a fifty-two week low of $22.66 and a fifty-two week high of $42.00. The firm’s 50 day moving average price is $41.93 and its two-hundred day moving average price is $38.67. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44.

PGT Innovations (NYSE:PGTI) last posted its earnings results on Tuesday, February 20th. The construction company reported $0.25 earnings per share 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 business had revenue of $342.50 million for the quarter, compared to analyst estimates of $339.15 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that PGT Innovations will post 2.48 EPS for the current year.

Institutional Trading of PGT Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of PGTI. Parkside Financial Bank & Trust grew its stake in PGT Innovations by 367.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,066 shares of the construction company’s stock valued at $30,000 after purchasing an additional 838 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of PGT Innovations during the third quarter worth approximately $44,000. Quest Partners LLC acquired a new stake in shares of PGT Innovations during 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 $98,000. Finally, USA Financial Formulas raised its holdings in PGT Innovations by 2,890.6% in the fourth quarter. USA Financial Formulas now owns 3,499 shares of the construction company’s stock valued at $142,000 after acquiring an additional 3,382 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other 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.