Will Today’s Gabelli Downgrade Ultimately Hurt The Stock Price of PGT Inc (PGTI)?

June 14, 2018 - By Adrian Erickson

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 turned negative, 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.

Louisiana State Employees Retirement accumulated 22,000 shares. Pnc Group Inc holds 0.01% or 704,963 shares. State Teachers Retirement System reported 0% in PGT Innovations, Inc. (NYSE:PGTI). Clarivest Asset Management Ltd Liability Company owns 167,721 shares for 0.05% of their portfolio. 231,771 are owned by Wells Fargo Commerce Mn. 78,367 are owned by Arizona State Retirement. Price T Rowe Assocs Md holds 3.09 million shares. Voya Mngmt Limited Liability Com holds 0% or 23,075 shares in its portfolio. Perritt Capital Mngmt holds 117,700 shares or 0.64% of its portfolio. Macquarie Grp Inc Limited owns 92,061 shares or 0% of their US portfolio. First Tru Advsr Limited Partnership has 0% invested in PGT Innovations, Inc. (NYSE:PGTI) for 48,092 shares. Preferred Ltd invested 0.04% of its portfolio in PGT Innovations, Inc. (NYSE:PGTI). Vanguard Grp Inc Inc reported 2.83 million shares stake. Alps Advisors invested in 25,438 shares or 0% of the stock. Los Angeles Cap Mngmt And Equity Research Inc invested in 0% or 12,905 shares.

Since May 17, 2018, it had 0 buys, and 3 insider sales for $3.26 million activity. On Friday, May 25 Hershberger Rodney sold $924,344 worth of PGT Innovations, Inc. (NYSE:PGTI) or 45,400 shares. 83,601 PGT Innovations, Inc. (NYSE:PGTI) shares with value of $1.70M were sold by MCHUGH M JOSEPH.

PGT Inc (PGTI) Receives a Downgrade

EU-listed PGT Inc (PGTI), was cut by research professionals at Gabelli. They cut their rating on the $1.03 billion market cap company to a Hold from their past Buy rating, but decided to keep their price target of $22.0 on PGTI.

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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