News

Jul 31, 2023

Schulhoff & Co. Inc. Purchases New Position in PGT Innovations, Inc. (NYSE:PGTI)

Schulhoff & Co. Inc. bought a new position in shares of PGT Innovations, Inc. (NYSE:PGTI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities

Schulhoff & Co. Inc. bought a new position in shares of PGT Innovations, Inc. (NYSE:PGTI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,000 shares of the construction company's stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PGTI. Millennium Management LLC grew its stake in shares of PGT Innovations by 1,091.8% during the 2nd quarter. Millennium Management LLC now owns 906,779 shares of the construction company's stock valued at $15,089,000 after purchasing an additional 830,693 shares during the period. Pacer Advisors Inc. bought a new position in PGT Innovations in the 4th quarter worth approximately $11,222,000. BlackRock Inc. grew its stake in PGT Innovations by 6.6% during the third quarter. BlackRock Inc. now owns 9,859,162 shares of the construction company's stock valued at $206,646,000 after acquiring an additional 610,447 shares in the last quarter. National Bank of Canada FI purchased a new stake in PGT Innovations in the 1st quarter worth $12,806,000. Finally, AQR Capital Management LLC increased its holdings in shares of PGT Innovations by 521.1% in the fourth quarter. AQR Capital Management LLC now owns 177,263 shares of the construction company's stock worth $3,184,000 after purchasing an additional 148,724 shares during the last quarter. 87.08% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Rodney Hershberger sold 2,500 shares of the business's stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $28.51, for a total value of $71,275.00. Following the completion of the transaction, the director now directly owns 1,344,155 shares of the company's stock, valued at approximately $38,321,859.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 7,500 shares of company stock worth $206,775 over the last 90 days. Company insiders own 4.90% of the company's stock.

Several equities analysts have weighed in on the company. Truist Financial raised their price target on PGT Innovations from $29.00 to $32.00 in a report on Monday, June 5th. StockNews.com upgraded shares of PGT Innovations from a "hold" rating to a "buy" rating in a research report on Monday, May 15th. Finally, Jefferies Financial Group lifted their price objective on shares of PGT Innovations from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, July 13th.

Get Our Latest Stock Analysis on PGTI

Shares of PGTI traded up $0.18 during mid-day trading on Friday, reaching $26.24. 276,389 shares of the company's stock traded hands, compared to its average volume of 483,855. PGT Innovations, Inc. has a 12 month low of $17.43 and a 12 month high of $29.64. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.52 and a quick ratio of 1.80. The stock has a market cap of $1.54 billion, a P/E ratio of 14.24 and a beta of 1.45. The stock's 50-day moving average is $27.84 and its two-hundred day moving average is $24.82.

PGT Innovations (NYSE:PGTI - Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $384.90 million for the quarter, compared to the consensus estimate of $390.95 million. PGT Innovations had a return on equity of 20.09% and a net margin of 7.38%. PGT Innovations's quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. Research analysts forecast that PGT Innovations, Inc. will post 2.08 earnings per share for the current fiscal year.

PGT Innovations, Inc, together with its subsidiaries manufactures and supplies impact-resistant aluminum frame windows and doors in the United States and internationally. The company provides heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact resistant vinyl windows with insulating glass and multi-chambered frames for various climate zones.

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