Todays Report: The PGT Inc. (PGTI) Lowered to Sell at Zacks Investment Research

The PGT Inc. (PGTI) Lowered to Sell at Zacks Investment Research

PGT Inc. (NASDAQ:PGTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “PGT INDUSTRIES pioneered the U.S. impact-resistant window and door industry and today is the nation’s leading manufacturer and supplier of residential impact-resistant windows and doors. PGT is also one of the largest window and door manufacturers in the United States. The company’s total line of custom windows and doors is now available throughout the eastern United States, the Gulf Coast and in a growing international market, which includes the Caribbean, South America and Australia. PGT’s product line includes PGT Aluminum and Vinyl Windows and Doors; WinGuard Impact-Resistant Windows and Doors; PGT Architectural Systems; and Eze-Breeze Sliding Panels. PGT Industries is a wholly owned subsidiary of PGT, Inc. “

Separately, FBR & Co restated a “buy” rating on shares of PGT in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $13.93.

PGT (NASDAQ:PGTI) opened at 10.80 on Wednesday. PGT has a 52-week low of $8.69 and a 52-week high of $14.05. The company has a 50 day moving average of $11.36 and a 200 day moving average of $10.83. The company has a market capitalization of $528.61 million, a PE ratio of 29.19 and a beta of 0.85.

PGT (NASDAQ:PGTI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. PGT had a return on equity of 23.68% and a net margin of 4.59%. The company earned $119 million during the quarter, compared to analysts’ expectations of $124.29 million. During the same quarter in the previous year, the business earned $0.17 EPS. PGT’s revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts forecast that PGT will post $0.54 earnings per share for the current fiscal year.

In other PGT news, CEO Rodney Hershberger sold 100,000 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $11.24, for a total value of $1,124,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,058,343 shares in the company, valued at approximately $11,895,775.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.50% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of PGTI. Lazard Asset Management LLC boosted its stake in shares of PGT by 0.3% in the first quarter. Lazard Asset Management LLC now owns 2,293,975 shares of the company’s stock valued at $22,572,000 after buying an additional 6,685 shares in the last quarter. Vanguard Group Inc. raised its position in PGT by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,164,394 shares of the company’s stock valued at $22,294,000 after buying an additional 81,765 shares during the last quarter. Cooke & Bieler LP raised its position in PGT by 9.9% in the second quarter. Cooke & Bieler LP now owns 2,015,040 shares of the company’s stock valued at $20,755,000 after buying an additional 181,600 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PGT by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,857,766 shares of the company’s stock valued at $19,135,000 after buying an additional 45,638 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in PGT by 24.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,175,062 shares of the company’s stock valued at $12,103,000 after buying an additional 231,552 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

About PGT

PGT, Inc is a manufacturer and supplier of residential impact-resistant windows and doors. The Company operates through the manufacture and sale of windows and doors segment. The Company’s impact-resistant products are marketed under the WinGuard, PremierVue, PGT Architectural Systems and PGT Commercial Storefront System brand names, combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris.

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