Advisor Group Inc. boosted its holdings in PGT Innovations Inc (NYSE:PGTI) by 61.6% during the fourth quarter, Holdings Channel reports. The fund owned 3,831 shares of the construction company’s stock after buying an additional 1,460 shares during the period. Advisor Group Inc.’s holdings in PGT Innovations were worth $62,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in PGT Innovations by 182.2% in the fourth 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 during the period. Bruderman Asset Management LLC purchased a new stake in PGT Innovations in the fourth quarter valued at approximately $80,000. Quantamental Technologies LLC purchased a new stake in PGT Innovations in the fourth quarter valued at approximately $94,000. Fox Run Management L.L.C. purchased a new stake in PGT Innovations in the fourth quarter valued at approximately $167,000. Finally, Stevens Capital Management LP purchased a new stake in PGT Innovations in the fourth quarter valued at approximately $184,000. Hedge funds and other institutional investors own 92.58% of the company’s stock.
A number of brokerages have issued reports on PGTI. ValuEngine raised PGT Innovations from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Zacks Investment Research lowered PGT Innovations from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Dougherty & Co reissued a “buy” rating and issued a $22.00 target price (down previously from $27.00) on shares of PGT Innovations in a research report on Thursday, February 28th. Wells Fargo & Co lowered PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 28th. Finally, JPMorgan Chase & Co. initiated coverage on PGT Innovations in a research report on Tuesday, December 18th. They set a “neutral” rating and a $19.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $23.75.
PGT Innovations (NYSE:PGTI) last posted its quarterly earnings data on Wednesday, February 27th. The construction company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. PGT Innovations had a return on equity of 22.09% and a net margin of 7.72%. The business had revenue of $189.89 million for the quarter, compared to analyst estimates of $173.39 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s revenue was up 41.6% on a year-over-year basis. Analysts predict that PGT Innovations Inc will post 1 EPS for the current year.
In other PGT Innovations news, Director Richard D. Feintuch bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased 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 of the company’s stock, valued at approximately $1,429,282. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey T. Jackson bought 3,000 shares of the company’s stock in a transaction that occurred 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 disclosure for this purchase can be found here. 5.80% of the stock is currently owned by corporate insiders.
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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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