RBC Capital Sticks to Its Buy Rating for PGT Inc

By Ryan Adsit

RBC Capital analyst Robert Wetenhall reiterated a Buy rating on PGT Inc (NASDAQ: PGTI) yesterday and set a price target of $17. The company’s shares closed yesterday at $15.35, close to its 52-week high of $15.38.

According to TipRanks.com, Wetenhall is a top 25 analyst with an average return of 18.3% and a 82.4% success rate. Wetenhall covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Installed Building Products, and Advanced Drainage Systems.

Currently, the analyst consensus on PGT Inc is Strong Buy and the average price target is $16.50, representing a 7.5% upside.

In a report issued on November 3, Dougherty also upgraded the stock to Buy with a $18 price target.

Based on PGT Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $127 million and quarterly net profit of $6.29 million. In comparison, last year the company earned revenue of $130 million and had a net profit of $10.8 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.

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PGT Innovations, Inc. manufactures and sells windows and doors. The company’s impact-resistant products, which are marketed under the WinGuard, PremierVue and PGT Architectural Systems brand names, combine heavy-duty aluminum and vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris.