Today: Today, Ply Gem Holdings Inc. (PGEM) Downgraded by Zacks Investment Research

Today, Ply Gem Holdings Inc. (PGEM) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Ply Gem Holdings Inc. (NYSE:PGEM) from a hold rating to a strong sell rating in a research note released on Wednesday.

According to Zacks, “Ply Gem Holdings Inc. is engaged in manufacturing and selling exterior building products primarily in the United States and Canada. Its business segment consists of: Siding, Fencing, and Stone and Windows and Doors. The Company offers vinyl siding, designer accents, cellular PVC trim, vinyl fencing, vinyl and composite railing, stone veneer and vinyl windows and doors. Its brand name include Variform(R), Napco(R), Mastic Home Exteriors(R), Cellwood(R), Kroy and Kroy Express(R), Ply Gem Stone(R), Georgia-Pacific and Durabuilt (R), Ply Gem Windows(R), Great Lakes Window(R). The company serves residential and commercial construction, manufactured housing, professional remodelling and renovation markets. Ply Gem Holdings Inc. is headquartered in Cary, North Carolina. “

PGEM has been the topic of several other reports. Credit Suisse Group AG reissued a hold rating and set a $16.00 price target on shares of Ply Gem Holdings in a research note on Wednesday, June 29th. JPMorgan Chase & Co. increased their price target on shares of Ply Gem Holdings from $16.00 to $17.00 and gave the company a neutral rating in a research note on Tuesday, August 9th. Imperial Capital increased their price target on shares of Ply Gem Holdings from $17.50 to $18.50 and gave the company an outperform rating in a research note on Wednesday, August 10th. Royal Bank Of Canada assumed coverage on shares of Ply Gem Holdings in a research note on Tuesday, September 20th. They set an outperform rating and a $16.00 price target on the stock. Finally, RBC Capital Markets assumed coverage on shares of Ply Gem Holdings in a research note on Tuesday, September 20th. They set an outperform rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Ply Gem Holdings has an average rating of Hold and an average target price of $16.07.

Ply Gem Holdings (NYSE:PGEM) opened at 14.30 on Wednesday. Ply Gem Holdings has a 12-month low of $8.58 and a 12-month high of $16.09. The firm has a 50 day moving average price of $13.73 and a 200 day moving average price of $14.48. The company has a market cap of $975.05 million, a PE ratio of 15.08 and a beta of 2.59.

Ply Gem Holdings (NYSE:PGEM) last posted its earnings results on Monday, August 8th. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.08. The business had revenue of $510.50 million for the quarter, compared to analysts’ expectations of $531.39 million. Ply Gem Holdings had a net margin of 3.45% and a negative return on equity of 99.17%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, analysts anticipate that Ply Gem Holdings will post $1.30 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Ply Gem Holdings by 197.7% in the second quarter. BlackRock Inc. now owns 7,091 shares of the company’s stock worth $104,000 after buying an additional 4,709 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Ply Gem Holdings during the third quarter worth approximately $134,000. American International Group Inc. raised its stake in shares of Ply Gem Holdings by 0.4% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock worth $185,000 after buying an additional 45 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Ply Gem Holdings by 29.4% in the second quarter. BlackRock Advisors LLC now owns 12,910 shares of the company’s stock worth $188,000 after buying an additional 2,930 shares during the last quarter. Finally, Pitcairn Co. raised its stake in shares of Ply Gem Holdings by 1.0% in the second quarter. Pitcairn Co. now owns 13,767 shares of the company’s stock worth $200,000 after buying an additional 142 shares during the last quarter. Institutional investors own 29.19% of the company’s stock.

Ply Gem Holdings Company Profile

Ply Gem Holdings, Inc is a manufacturer of exterior building products in North America. The Company operates through two segments: Siding, Fencing, and Stone, and Windows and Doors. In the Siding, Fencing, and Stone segment, the Company’s principal products include vinyl skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC moldings, J-channels, wide crown molding, window and door trim, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutters, vents and mounts, vinyl fence, vinyl railing and stone veneer in the United States and Canada.

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