why PGT Innovations Inc [PGTI] is a Good Choice for Investors After New Price Target of $41.28

PGT Innovations Inc [NYSE: PGTI] slipped around -0.28 points on Wednesday, while shares priced at $41.02 at the close of the session, down -0.68%. The company report on January 17, 2024 at 9:05 AM that Masonite Confirms Termination of Agreement to Acquire PGT Innovations.

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Masonite International Corporation (“Masonite” or the “Company”) (NYSE: DOOR), a leading global designer, manufacturer, marketer and distributor of interior and exterior doors and premium door systems, today confirmed the termination of its previously announced definitive merger agreement to acquire PGT Innovations, Inc. (“PGT Innovations” or “PGTI”) (NYSE: PGTI). This termination follows the Masonite Board of Directors’ decision not to submit a revised offer to acquire PGT Innovations, after being notified that the PGTI Board had determined that a revised proposal from MITER Brands submitted on January 12, 2024, was a “superior proposal.” In accordance with the terms of the merger agreement, Masonite received a termination fee of $84 million.

Compared to the average trading volume of 703.59K shares, PGTI reached a trading volume of 4426035 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about PGT Innovations Inc [PGTI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGTI shares is $41.28 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGTI stock is a recommendation set at 2.75. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Deutsche Bank have made an estimate for PGT Innovations Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 18, 2022.

The Average True Range (ATR) for PGT Innovations Inc is set at 0.70, with the Price to Sales ratio for PGTI stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 3.55, with the Price to Cash per share for the same quarter was set at 0.66. Price to Free Cash Flow for PGTI in the course of the last twelve months was 18.68 with Quick ratio for the last quarter at 1.61.

How has PGTI stock performed recently?

PGT Innovations Inc [PGTI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.28. With this latest performance, PGTI shares gained by 12.08% in over the last four-week period, additionally plugging by 44.79% over the last 6 months – not to mention a rise of 105.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGTI stock in for the last two-week period is set at 67.19, with the RSI for the last a single of trading hit 59.61, and the three-weeks RSI is set at 69.22 for PGT Innovations Inc [PGTI]. The present Moving Average for the last 50 days of trading for this stock 35.84, while it was recorded at 41.31 for the last single week of trading, and 29.49 for the last 200 days.

PGT Innovations Inc [PGTI]: Deeper insight into the fundamentals

PGT Innovations Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.61 and a Current Ratio set at 2.31.

Earnings analysis for PGT Innovations Inc [PGTI]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PGTI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PGT Innovations Inc go to 16.05%.

Insider trade positions for PGT Innovations Inc [PGTI]

The top three institutional holders of PGTI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PGTI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PGTI stock with ownership which is approximately 5.8325%.