Royal Bank Of Canada Reiterates “Buy” Rating for Ply Gem Holdings, Inc. (PGEM)
Ply Gem Holdings, Inc. (NYSE:PGEM)‘s stock had its “buy” rating reaffirmed by Royal Bank Of Canada in a note issued to investors on Monday. They currently have a $18.00 target price on the construction company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 7.78% from the stock’s previous close.
PGEM has been the topic of a number of other research reports. BidaskClub lowered Ply Gem Holdings from a “hold” rating to a “sell” rating in a research note on Sunday, August 20th. Zacks Investment Research lowered Ply Gem Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $19.00 price objective (down previously from $20.00) on shares of Ply Gem Holdings in a research note on Tuesday, August 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.50.
Ply Gem Holdings (NYSE:PGEM) opened at 16.70 on Monday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 13.18 and a beta of 2.52. The stock’s 50 day moving average price is $16.35 and its 200 day moving average price is $17.21. Ply Gem Holdings has a 12-month low of $12.85 and a 12-month high of $20.00.
Ply Gem Holdings (NYSE:PGEM) last posted its quarterly earnings data on Monday, August 7th. The construction company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). The company had revenue of $544.80 million for the quarter, compared to analyst estimates of $548.58 million. Ply Gem Holdings had a net margin of 4.45% and a return on equity of 857.19%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. Analysts forecast that Ply Gem Holdings will post $1.19 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGEM. Renaissance Technologies LLC lifted its position in Ply Gem Holdings by 50.0% during the first quarter. Renaissance Technologies LLC now owns 1,237,900 shares of the construction company’s stock worth $24,387,000 after buying an additional 412,500 shares during the period. Principal Financial Group Inc. purchased a new position in Ply Gem Holdings during the second quarter worth about $3,602,000. Driehaus Capital Management LLC purchased a new position in Ply Gem Holdings during the first quarter worth about $3,480,000. Paradigm Capital Management Inc. NY lifted its position in Ply Gem Holdings by 20.2% during the second quarter. Paradigm Capital Management Inc. NY now owns 961,681 shares of the construction company’s stock worth $17,262,000 after buying an additional 161,281 shares during the period. Finally, Vanguard Group Inc. lifted its position in Ply Gem Holdings by 7.6% during the first quarter. Vanguard Group Inc. now owns 2,080,933 shares of the construction company’s stock worth $40,993,000 after buying an additional 146,869 shares during the period. Hedge funds and other institutional investors own 29.70% of the company’s stock.
About Ply Gem Holdings
Ply Gem Holdings, Inc is a manufacturer of exterior building products in North America. The Company operates through two segments: Siding, Fencing, and Stone, and Windows and Doors. In the Siding, Fencing, and Stone segment, its principal products include vinyl siding and skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC trim and moldings, J-channels, wide crown molding, window and door trim, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutters, vents and mounts, vinyl fence, vinyl railing and stone veneer in the United States and Canada.
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