PGT Innovations (NYSE:PGTI) Reaches New 12-Month High After Analyst Upgrade

Posted by Defense World Staff on Jun 6th, 2023

PGT Innovations, Inc. (NYSE:PGTI – Get Rating)’s share price hit a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $29.00 to $32.00. The company traded as high as $26.93 and last traded at $26.89, with a volume of 420371 shares traded. The stock had previously closed at $26.56.

Several other research analysts have also recently commented on PGTI. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PGT Innovations from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, April 3rd. StockNews.com upgraded shares of PGT Innovations from a “hold” rating to a “buy” rating in a research note on Monday, May 15th.

Insider Buying and Selling at PGT Innovations

In other news, Director Rodney Hershberger sold 2,500 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $25.37, for a total value of $63,425.00. Following the completion of the transaction, the director now owns 1,350,638 shares in the company, valued at approximately $34,265,686.06. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Deborah L. Lapinska sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $25.04, for a total transaction of $250,400.00. Following the transaction, the insider now owns 112,612 shares in the company, valued at approximately $2,819,804.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rodney Hershberger sold 2,500 shares of PGT Innovations stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $25.37, for a total value of $63,425.00. Following the transaction, the director now directly owns 1,350,638 shares in the company, valued at approximately $34,265,686.06. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $633,725 over the last three months. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PGTI. Price T Rowe Associates Inc. MD grew its holdings in shares of PGT Innovations by 0.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 63,226 shares of the construction company’s stock worth $1,052,000 after buying an additional 462 shares during the last quarter. Arizona State Retirement System raised its stake in shares of PGT Innovations by 2.8% during the first quarter. Arizona State Retirement System now owns 17,384 shares of the construction company’s stock worth $437,000 after purchasing an additional 469 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of PGT Innovations by 0.6% during the second quarter. Goldman Sachs Group Inc. now owns 96,994 shares of the construction company’s stock worth $1,614,000 after purchasing an additional 621 shares during the period. State Board of Administration of Florida Retirement System grew its position in PGT Innovations by 6.7% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 11,735 shares of the construction company’s stock valued at $211,000 after buying an additional 740 shares during the last quarter. Finally, Bank of Montreal Can grew its position in PGT Innovations by 4.6% in the 1st quarter. Bank of Montreal Can now owns 16,931 shares of the construction company’s stock valued at $336,000 after buying an additional 748 shares during the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

PGT Innovations Stock Up 1.7 %

The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 14.77 and a beta of 1.45. The company has a current ratio of 2.52, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. The firm’s 50 day simple moving average is $25.39 and its 200-day simple moving average is $22.08.

About PGT Innovations

(Get Rating)

PGT Innovations, Inc engages in the manufacture and supply of windows and doors under the brand names PGT Custom Windows + Doors, CGI, WinDoor, Western Window Systems, Eze-Breeze, and CGI Commercial. It operates through the Southeast and Western geographical segments. The company was founded by Rodney Hershberger in 1980 and is headquartered in Nokomis, FL.