Icon Advisers Inc. Co. cut its stake in PGT Innovations Inc (NYSE:PGTI) by 52.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,900 shares of the construction company’s stock after selling 24,800 shares during the period. Icon Advisers Inc. Co.’s holdings in PGT Innovations were worth $495,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PGTI. Zacks Investment Management bought a new position in PGT Innovations during the 2nd quarter worth about $1,465,000. First Trust Advisors LP grew its holdings in PGT Innovations by 18.9% during the 2nd quarter. First Trust Advisors LP now owns 57,175 shares of the construction company’s stock worth $1,192,000 after acquiring an additional 9,083 shares in the last quarter. US Bancorp DE grew its holdings in PGT Innovations by 17.0% during the 2nd quarter. US Bancorp DE now owns 65,696 shares of the construction company’s stock worth $1,369,000 after acquiring an additional 9,561 shares in the last quarter. GSA Capital Partners LLP bought a new position in PGT Innovations during the 2nd quarter worth about $1,044,000. Finally, Renaissance Technologies LLC grew its holdings in PGT Innovations by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,877,729 shares of the construction company’s stock worth $80,851,000 after acquiring an additional 232,300 shares in the last quarter. Hedge funds and other institutional investors own 79.38% of the company’s stock.
PGTI has been the topic of several recent research reports. B. Riley increased their target price on shares of PGT Innovations from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. ValuEngine cut shares of PGT Innovations from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Wells Fargo & Co initiated coverage on shares of PGT Innovations in a report on Thursday, October 4th. They set an “outperform” rating and a $25.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of PGT Innovations in a report on Thursday, October 4th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Deutsche Bank initiated coverage on shares of PGT Innovations in a report on Friday, October 19th. They set a “buy” rating and a $26.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PGT Innovations currently has a consensus rating of “Buy” and a consensus price target of $22.89.
PGT Innovations (NYSE:PGTI) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The business had revenue of $199.08 million during the quarter, compared to analyst estimates of $165.62 million. PGT Innovations had a net margin of 9.92% and a return on equity of 25.71%. The company’s quarterly revenue was up 56.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. Analysts predict that PGT Innovations Inc will post 1.17 earnings per share for the current year.
PGT Innovations Profile
PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.
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