PGT Innovations Inc. (NYSE: PGTI) stock jumped 1.18% on Wednesday to $25.71 against a previous-day closing price of $25.41. With 0.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.58 million shares. During the session, the Building Products & Equipment company that operates in wider Industrials sector, reached to the highest price of $25.91 whereas the lowest price it dropped to was $25.28. The 52-week range on PGTI shows that it touched its highest point at $26.93 and its lowest point at $15.42 during that stretch. It currently has a 1-year price target of $31.67. Beta for the stock currently stands at 1.44.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PGTI was down-trending over the past week, with a drop of -1.12%, but this was up by 0.04% over a month. Three-month performance surged to 24.99% while six-month performance rose 27.47%. The stock gained 33.63% in the past year, while it has gained 43.15% so far this year. A look at the trailing 12-month EPS for PGTI yields 1.83 with Next year EPS estimates of 2.21. For the next quarter, that number is 0.58. This implies an EPS growth rate of 267.40% for this year and 11.03% for next year. EPS is expected to grow by 8.97% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 25.30%.
Float and Shares Shorts:
At present, 59.82 million PGTI shares are outstanding with a float of 57.20 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.77 million, which was 2.94% higher than short shares on Mar 30, 2023. In addition to Mr. Rodney Hershberger as the firm’s Co-Founder & Chairman, Mr. Jeffrey T. Jackson CPA serves as its Pres, CEO & Director.
Institutional Ownership:
Through their ownership of 89.01% of PGTI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.78% of PGTI, in contrast to 39.50% held by mutual funds. Shares owned by individuals account for 18.72%. As the largest shareholder in PGTI with 14.71% of the stake, BlackRock Fund Advisors holds 8,850,615 shares worth 8,850,615. A second-largest stockholder of PGTI, Wellington Management Co. LLP, holds 4,648,037 shares, controlling over 7.72% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in PGTI, holding 3,826,999 shares or 6.36% stake. With a 7.22% stake in PGTI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,344,171 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.96% of PGTI stock, is the second-largest Mutual Fund holder. It holds 1,781,408 shares valued at 45.71 million. iShares Russell 2000 ETF holds 2.03% of the stake in PGTI, owning 1,221,550 shares worth 31.34 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, PGTI reported revenue of $406.52M and operating income of $55.62M. The EBITDA in the recently reported quarter was $55.62M and diluted EPS was $0.61.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGTI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PGTI analysts setting a high price target of $33.00 and a low target of $27.00, the average target price over the next 12 months is $30.50. Based on these targets, PGTI could surge 28.35% to reach the target high and rise by 5.02% to reach the target low. Reaching the average price target will result in a growth of 18.63% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PGTI stock several times over the past three months with 0 Buys and 7 Sells. In these transactions, 0 shares were bought while 47,500 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 271,678 while 141,530 shares were sold.
