PGT feels good vibes from Wall Street

VENICE — Wall Street analysts are projecting good times ahead for shares of PGT Inc., a Venice-based impact resistant window and door manufacturer that's one of the largest private employers in Sarasota County.

The latest research comes from KeyCorp, according to stock news website theflyonthewall.com. KeyCorp issued a buy rating and a $12 target price on PGT shares (Nasdaq: PGTI). The stock closed Nov. 5 at $9.43, down from its 52-week high of $12.61.

PGT has been the subject of several other recent positive research reports. Including KeyCorp, four Wall Street firms now rate the stock a buy, one has it a strong buy and two have a hold. The average price target is $11.35.

PGT posted quarterly earnings Oct. 29. Revenues rose 19.2%, from $64.8 million in the 2013 third quarter to $77.3 million. Earnings per share dropped one cent, to $0.12 in 2014 from $0.13 in 2013. PGT shares fell nearly $1 in heavy trading after the announcement, which were off slightly from Wall Street estimates.