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VENICE — Shares of impact-resistant window and door manufacturer PGT received a Wall Street boost, the second time this month a Sarasota-Bradenton publicly traded company has earned strong analyst reports.
Earlier in March it was Sarasota-based valve manufacturer Sun Hydraulics in the spotlight. Several analyst firms raised ratings on the company to buy or outperform.
The consensus rating among firms that follow PGT (symbol: PGTI, recent price $10.92) has also moved to buy, according to a new report from the Analyst Ratings Network. Seven of the nine firms that track the company now have a buy rating, the network reports, and the average 12-month target price of all analysts that cover the firm is $11.66. Raymond James analysts recently bumped their target price on PGT shares from $12.50 to $14, and New York-based Sidoti & Co. launched coverage of PGT early in March with a buy position.
PGT, with a market capitalization of $511.83 million, reported fourth quarter and 2013 year-end earnings in February. The firm reported fourth quarter sales of $62 million, up from $45.2 million in 2012. Sales for the year were $239 million, up from $174 million in 2012.
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