Ply Gem Holdings (PGEM) Bombs After Analyst Downgrade

NEW YORK (TheStreet) -- Ply Gem Holdings (PGEM) bombed on Monday after receiving a JPMorgan downgrade. By mid-afternoon, shares had fallen 17.2% to $14.07.

The investment bank downgraded the stock to "overweight" from "neutral".

"We believe the company's recent operational challenges and lack of near-term visibility are likely to continue for at least one to two more quarters," wrote analyst Michael Rehaut in the report.

The construction material wholesaler recently released preliminary fourth-quarter sales between $330 million and $335 million, missing expectations. JPMorgan analysts had hoped for $365 million, while analysts polled by Thomson Reuters had consensus of $343.6 million.

More from Markets

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists