Daiwa Securities Group Inc. trimmed its position in shares of PGT Innovations Inc (NYSE:PGTI) by 41.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,500 shares of the construction company’s stock after selling 53,500 shares during the period. Daiwa Securities Group Inc. owned approximately 0.15% of PGT Innovations worth $1,289,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PGTI. Piedmont Investment Advisors LLC bought a new position in PGT Innovations during the 2nd quarter worth approximately $137,000. Empirical Finance LLC bought a new position in PGT Innovations during the 3rd quarter worth approximately $160,000. Campbell & CO Investment Adviser LLC bought a new position in PGT Innovations during the 3rd quarter worth approximately $170,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of PGT Innovations during the 3rd quarter worth approximately $177,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of PGT Innovations during the 4th quarter worth approximately $258,000. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Several analysts recently issued reports on PGTI shares. B. Riley lifted their price target on shares of PGT Innovations from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Dougherty & Co reaffirmed a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of PGT Innovations in a report on Thursday, February 8th. 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. Finally, Zacks Investment Research upgraded PGT Innovations from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. PGT Innovations has an average rating of “Buy” and a consensus target price of $17.80.
PGT Innovations (NYSE:PGTI) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The company had revenue of $134.10 million during the quarter, compared to analyst estimates of $118.32 million. PGT Innovations had a return on equity of 20.52% and a net margin of 7.80%. PGT Innovations’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. sell-side analysts predict that PGT Innovations Inc will post 0.76 EPS for the current year.
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PGT Innovations Company Profile
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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