JELD-WEN (NYSE:JELD) Shares Gap Up on Insider Buying Activity

JELD-WEN Holding, Inc. (NYSE:JELD) gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $10.28, but opened at $10.85. JELD-WEN shares last traded at $10.90, with a volume of 106,025 shares trading hands.

Specifically, major shareholder Turtle Creek Asset Management purchased 200,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were purchased at an average price of $10.48 per share, with a total value of $2,096,000.00. Following the acquisition, the insider now directly owns 11,941,452 shares in the company, valued at $125,146,416.96. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Turtle Creek Asset Management acquired 450,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were bought at an average cost of $10.06 per share, with a total value of $4,527,000.00. Following the completion of the acquisition, the insider now directly owns 11,751,912 shares of the company’s stock, valued at $118,224,234.72. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of equities research analysts have commented on JELD shares. Loop Capital cut their target price on shares of JELD-WEN from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 19th. The Goldman Sachs Group cut their price objective on JELD-WEN from $17.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays lowered their target price on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group cut their price target on JELD-WEN from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada lowered their price objective on shares of JELD-WEN from $13.00 to $9.00 and set an “underperform” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.90.

JELD-WEN Trading Up 6.6 %

The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.33 and a current ratio of 2.03. The company has a market capitalization of $927.44 million, a PE ratio of -5.99 and a beta of 2.25. The stock has a fifty day moving average of $14.57 and a 200 day moving average of $14.91.

JELD-WEN (NYSE:JELD) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $934.70 million during the quarter, compared to analysts’ expectations of $990.64 million. JELD-WEN had a positive return on equity of 11.97% and a negative net margin of 3.98%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts predict that JELD-WEN Holding, Inc. will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JELD-WEN

Several institutional investors have recently added to or reduced their stakes in JELD. Innealta Capital LLC purchased a new position in shares of JELD-WEN in the second quarter valued at $30,000. Allspring Global Investments Holdings LLC raised its position in JELD-WEN by 790.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,165 shares of the company’s stock valued at $46,000 after purchasing an additional 1,922 shares during the period. Blue Trust Inc. lifted its position in JELD-WEN by 79.8% in the third quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock worth $46,000 after buying an additional 1,284 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of JELD-WEN in the second quarter valued at $92,000. Finally, MQS Management LLC bought a new stake in JELD-WEN in the third quarter worth about $160,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About JELD-WEN

JELD-WEN Holding, Inc designs, manufactures, and sells wood, metal, and composite materials doors, windows, and related building products in North America and Europe. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; stile and rail doors; and wood, vinyl, and wood composite windows.