JPMorgan Chase & Co. lifted its position in shares of PGT Innovations Inc (NYSE:PGTI) by 85.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,506 shares of the construction company’s stock after buying an additional 32,386 shares during the period. JPMorgan Chase & Co. owned about 0.14% of PGT Innovations worth $1,047,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in shares of PGT Innovations during the second quarter worth approximately $137,000. Citadel Advisors LLC bought a new position in shares of PGT Innovations during the second quarter worth approximately $147,000. Empirical Finance LLC bought a new position in shares of PGT Innovations during the third quarter worth approximately $160,000. State Board of Administration of Florida Retirement System bought a new position in shares of PGT Innovations during the third quarter worth approximately $177,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of PGT Innovations by 55.9% during the second quarter. BNP Paribas Arbitrage SA now owns 14,568 shares of the construction company’s stock worth $186,000 after purchasing an additional 5,224 shares during the period. 92.39% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on PGTI shares. Royal Bank of Canada reiterated a “buy” rating and set a $17.00 target price on shares of PGT Innovations in a research note on Wednesday, November 15th. BidaskClub lowered PGT Innovations from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. B. Riley increased their price target on PGT Innovations from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. KeyCorp reissued a “hold” rating on shares of PGT Innovations in a research report on Tuesday, September 26th. Finally, Dougherty & Co raised PGT Innovations from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. PGT Innovations has a consensus rating of “Buy” and an average price target of $16.67.
PGT Innovations (NYSE:PGTI) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03). PGT Innovations had a net margin of 4.87% and a return on equity of 19.02%. The business had revenue of $126.90 million during the quarter, compared to analyst estimates of $129.82 million. During the same period in the prior year, the business posted $0.19 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. analysts forecast that PGT Innovations Inc will post 0.56 EPS for the current fiscal year.
In other news, Director William J. Morgan sold 41,395 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $15.71, for a total value of $650,315.45. Following the completion of the transaction, the director now directly owns 75,508 shares in the company, valued at approximately $1,186,230.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard D. Feintuch sold 50,000 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $16.05, for a total value of $802,500.00. Following the completion of the transaction, the director now owns 75,508 shares of the company’s stock, valued at $1,211,903.40. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.
About PGT Innovations
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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