Finally Time To Sell Shares of PGT Inc (PGTI)? Gabelli Has Downgraded The Company With a $22.0 Target

June 14, 2018 - By Ash Ash

PGT Innovations, Inc. (NYSE:PGTI) Logo

Investors sentiment decreased to 1.31 in 2018 Q1. Its down 0.36, from 1.67 in 2017Q4. It dropped, as 15 investors sold PGT Innovations, Inc. shares while 47 reduced holdings. 33 funds opened positions while 48 raised stakes. 43.32 million shares or 2.53% less from 44.44 million shares in 2017Q4 were reported.

King Luther Cap Mngmt Corp has 0.03% invested in PGT Innovations, Inc. (NYSE:PGTI) for 201,065 shares. Manufacturers Life Insurance Communications The has invested 0% in PGT Innovations, Inc. (NYSE:PGTI). Prelude Cap Mngmt Limited Liability has 175,681 shares for 0.24% of their portfolio. State Board Of Administration Of Florida Retirement Sys reported 12,775 shares. Riverhead Capital Mngmt invested in 6,567 shares. State Bank Of America Corporation De owns 0% invested in PGT Innovations, Inc. (NYSE:PGTI) for 146,561 shares. Driehaus Cap Mgmt Ltd Liability, Illinois-based fund reported 328,582 shares. 65,238 were reported by Navellier Associates. Guggenheim Capital Limited Company, Illinois-based fund reported 143,166 shares. Moreover, Clarivest Asset Mgmt Ltd has 0.05% invested in PGT Innovations, Inc. (NYSE:PGTI) for 167,721 shares. Omers Administration has invested 0% in PGT Innovations, Inc. (NYSE:PGTI). Comerica Financial Bank has 0.01% invested in PGT Innovations, Inc. (NYSE:PGTI). Northern Trust holds 0% or 621,856 shares in its portfolio. Bogle Inv Mgmt Limited Partnership De reported 0.3% of its portfolio in PGT Innovations, Inc. (NYSE:PGTI). Atlantic Tru Grp Incorporated holds 1,233 shares or 0% of its portfolio.

Since May 17, 2018, it had 0 insider buys, and 3 insider sales for $3.26 million activity. Shares for $631,321 were sold by West Bradley R on Thursday, May 17. 83,601 shares were sold by MCHUGH M JOSEPH, worth $1.70M on Friday, May 25.

PGT Inc (PGTI) Receives a Downgrade

In analysts note shared with investors and clients on Thursday, 14 June, Gabelli lowered PGT Inc (PGTI) shares to a Hold rating from the previous Buy. Gabelli now has a $22.0 target price on the stock. This target price suggests a possible upside, according to the firm, of 56.03 % from last stock close price of the stock.

The stock decreased 2.38% or $0.5 during the last trading session, reaching $20.55. About 432,564 shares traded. PGT Innovations, Inc. (PGTI) has risen 81.86% since June 14, 2017 and is uptrending. It has outperformed by 69.29% the S&P500.

Analysts await PGT Innovations, Inc. (NYSE:PGTI) to report earnings on August, 2. They expect $0.28 earnings per share, up 40.00 % or $0.08 from last year’s $0.2 per share. PGTI’s profit will be $13.99 million for 18.35 P/E if the $0.28 EPS becomes a reality. After $0.19 actual earnings per share reported by PGT Innovations, Inc. for the previous quarter, Wall Street now forecasts 47.37 % EPS growth.

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 has market cap of $1.03 billion. The firm 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. It has a 26.69 P/E ratio. It also provides customizable non-impact-resistant aluminum frame windows and doors; and non-glass vertical and horizontal sliding panels for porch enclosures, including vinyl-glazed aluminum-framed products used for enclosing screened-in porches that provide protection from inclement weather, as well as cabana doors.

PGT Innovations, Inc. (NYSE:PGTI) Institutional Positions Chart

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