In a report released today, Alex Rygiel from B.Riley FBR reiterated a Buy rating on PGT Inc (PGTI), with a price target of $20. The company’s shares opened today at $14.64, close to its 52-week low of $13.94.
Rygiel noted:
“We are adjusting our 2019 estimates post 4Q18 results (2/27) and to incorporate management’s guidance. While 2019 is expected to witness flattish volumes (PF) and some margin headwinds on difficult Y/Y comps, we believe PGT is better positioned today within the value-added windows and doors space with its improved geographic presence and entry into the indoor/ outdoor window/doors market through its acquisition of Western Windows. We are lowering our price target from $28 to $20, placing a 10x on 2019 EBITDA estimate, which is a premium over other building materials stocks given the company’s brands and niche focus on higher-end, value-added windows and doors. We reiterate our Buy rating.”
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 7.5% and a 58.4% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PGT Inc with a $20.14 average price target, representing a 37.6% upside. In a report issued on February 28, Dougherty also maintained a Buy rating on the stock with a $22 price target.
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The company has a one-year high of $26.40 and a one-year low of $13.94. Currently, PGT Inc has an average volume of 552.1K.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PGTI in relation to earlier this year.
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PGT Innovations, Inc. engages in the manufacture and sale of windows and doors. It offers its products under the brands PGT Custom Windows and Doors, CGI, and WinDoor. The company was founded by Rodney Hershberger in 1980 and is headquartered in North Venice, FL.
