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

Research analysts at StockNews.com initiated coverage on shares of PGT Innovations (NYSE:PGTI) in a report issued on Thursday. The firm 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 on the stock in a research report on Thursday, January 18th.

PGT Innovations Price Performance

PGTI opened at $41.99 on Thursday. 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 company’s 50-day moving average is $41.82 and its 200 day moving average is $37.66. PGT Innovations has a fifty-two week low of $22.66 and a fifty-two week high of $42.00. The firm has a market capitalization of $2.40 billion, a P/E ratio of 23.07, a PEG ratio of 1.05 and a beta of 1.44.

PGT Innovations (NYSE:PGTI) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $339.15 million. During the same period in the previous year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts expect that PGT Innovations will post 2.48 earnings per share for the current fiscal year.

Institutional Trading of PGT Innovations

Hedge funds and other institutional investors have recently modified their holdings of the business. Money Concepts Capital Corp purchased a new position in PGT Innovations during the fourth quarter valued at approximately $27,000. Parkside Financial Bank & Trust grew its stake in PGT Innovations by 367.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,066 shares of the construction company’s stock valued at $30,000 after acquiring an additional 838 shares in the last quarter. Clearstead Advisors LLC purchased a new position in PGT Innovations during the third quarter valued at approximately $42,000. SRS Capital Advisors Inc. purchased a new position in PGT Innovations during the third quarter valued at approximately $44,000. Finally, Quest Partners LLC purchased a new position in PGT Innovations during the fourth quarter valued at approximately $81,000. Institutional investors 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.