The Vanguard Group, Inc. recently announced the acquisition of new stake in PGT Innovations Inc (NYSE:PGTI). The institutional investor has increased its shareholding in the Industrials company by 7.04% to 4.1 million shares with purchase of 0.27 million shares. This fresh investment now brings its stake to 7.20% valued currently at $167.06 million. In addition, SSgA Funds Management, Inc. raised its holdings by 15191.0 to 2.0 million shares. And Geode Capital Management LLC has lifted its position by 2.50% or 28119.0 shares – to 1.15 million shares.
With over 0.41 million PGT Innovations Inc (PGTI) shares trading Friday and a closing price of $41.50 on the day, the dollar volume was approximately $17.1 million. The shares have shown a positive half year performance of 45.67% and its price on 01/12/24 gained nearly 0.05%. Currently, there are 59.91M common shares owned by the public and among those 53.88M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for PGTI have a consensus price objective of $41.53. The analysts have set the share’s price value over the next 12 months at a high of $44.62 and a low of $37.00. The average price target is 0.07% above its recent price level and a downside to the estimated low will see the stock lose -12.16% over that period. But an upside of 6.99% will see the stock hit the forecast high price target while median target price for the stock is $42.25.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 234,816 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 99,478 shares.
The top 3 mutual fund holders in PGT Innovations Inc are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 3.82 million shares of the company’s stock, all valued at over $155.39 million. The company sold 15366.0 shares recently to bring their total holdings to about 6.70% of the shares outstanding. Vanguard Total Stock Market ETF bought 3214.0 shares to see its total holdings expand to 1.79 million shares valued at over $72.85 million and representing 3.14% of the shares outstanding. iShares Russell 2000 ETF sold 4032.0 shares to bring its total holdings to over 1.52 million shares at a value of $61.97 million. iShares Russell 2000 ETF now owns shares totaling to 2.67% of the shares outstanding.
Shares of PGT Innovations Inc (NYSE: PGTI) opened at $41.62, up $0.14 from a prior closing price of $41.48. However, the script later moved the day high at 41.62, up 0.05%. The company’s stock has a 5-day price change of -0.55% and 31.29% over the past three months. PGTI shares are trading 1.97% year to date (YTD), with the 12-month market performance up to 114.36% higher. It has a 12-month low price of $19.02 and touched a high of $41.97 over the same period. PGTI has an average intraday trading volume of 701.36K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.12%, 17.94%, and 42.06% respectively.
Institutional ownership of PGT Innovations Inc (NYSE: PGTI) shares accounts for 79.24% of the company’s 59.91M shares outstanding. Mutual fund holders own 34.13%, while other institutional holders and individual stakeholders account for 46.44% and 19.79% respectively.
It has a market capitalization of $2.37B and a beta (3y monthly) value of 1.44. The stock’s trailing 12-month PE ratio is 21.96, while the earnings-per-share (ttm) stands at $1.89. The company has a PEG of 1.37 and a Quick Ratio of 1.61 with the debt-to-equity ratio at 1.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.89% over the week and 2.04% over the month.
Analysts forecast that PGT Innovations Inc (PGTI) will achieve an EPS of $PGT Innovations, Inc. for the current quarter, $41.50 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Agiliti, Inc. while analysts give the company a high EPS estimate of $MGT CAPITAL INVESTMENTS INC. Comparatively, EPS for the current quarter was $T. Rowe Price Global Technology a year ago. Earnings per share for the fiscal year are expected to increase by 12.29%, and 13.75% over the next financial year. EPS should grow at an annualized rate of 16.05% over the next five years, compared to 15.84% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate PGT Innovations Inc (PGTI) as a “Moderate Buy” at a consensus score of 2.75. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PGTI, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on August 18, 2022, with the firm’s price target at $38.
