PGT, Inc. (PGTI) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of PGT, Inc. (NASDAQ:PGTI) from a hold rating to a sell rating in a research note released on Wednesday, Market Beat reports.

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. “

PGT (NASDAQ:PGTI) traded up 0.20% during midday trading on Wednesday, reaching $9.90. The company’s stock had a trading volume of 49,743 shares. PGT has a 1-year low of $8.69 and a 1-year high of $16.28. The company has a market capitalization of $482.07 million and a P/E ratio of 21.06. The company has a 50 day moving average of $9.60 and a 200-day moving average of $10.92.

PGT (NASDAQ:PGTI) last posted its quarterly earnings results on Thursday, February 25th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm earned $93 million during the quarter, compared to the consensus estimate of $90.86 million. During the same quarter in the prior year, the business earned $0.08 EPS. PGT’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that PGT will post $0.58 earnings per share for the current fiscal year.

Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Corbyn Investment Management Inc. MD increased its stake in shares of PGT by 42.5% in the fourth quarter. Corbyn Investment Management Inc. MD now owns 134,816 shares of the company’s stock valued at $1,536,000 after buying an additional 40,209 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of PGT by 24.0% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 772,639 shares of the company’s stock worth $8,800,000 after buying an additional 149,669 shares during the last quarter. Emerald Advisers Inc. PA raised its position in shares of PGT by 16.8% in the fourth quarter. Emerald Advisers Inc. PA now owns 774,122 shares of the company’s stock worth $8,817,000 after buying an additional 111,340 shares during the last quarter. Marshall Wace LLP raised its position in shares of PGT by 87.1% in the fourth quarter. Marshall Wace LLP now owns 88,157 shares of the company’s stock worth $1,004,000 after buying an additional 41,047 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of PGT by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 320,233 shares of the company’s stock worth $3,647,000 after buying an additional 14,527 shares during the last quarter.

Several other brokerages have also weighed in on PGTI. Dougherty & Co upgraded shares of PGT from a neutral rating to a buy rating and set a $13.00 price objective on the stock in a report on Monday, February 1st. Craig Hallum upgraded shares of PGT from a hold rating to a buy rating and set a $13.00 target price for the company in a research report on Wednesday, February 3rd. Finally, RBC Capital dropped their price objective on PGT from $12.00 to $11.00 and set an outperform rating for the company in a report on Friday, February 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $13.56.

PGT, Inc is a manufacturer and supplier of residential impact-resistant windows and doors. The Company’s impact-resistant products are marketed under 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 by maintaining their structural integrity and preventing penetration by impacting objects.

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