JELD-WEN (NYSE:JELD) Trading Down 4.7% After Analyst Downgrade

JELD-WEN Holding, Inc. (NYSE:JELD)’s share price was down 4.7% during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $9.00 to $8.00. Royal Bank of Canada currently has an underperform rating on the stock. JELD-WEN traded as low as $9.40 and last traded at $9.42. Approximately 236,955 shares traded hands during trading, a decline of 65% from the average daily volume of 686,564 shares. The stock had previously closed at $9.88.

A number of other equities analysts have also recently commented on JELD. Jefferies Financial Group boosted their price target on shares of JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. B. Riley reduced their target price on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group lowered their price target on JELD-WEN from $17.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. UBS Group reduced their price objective on JELD-WEN from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Barclays dropped their target price on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.63.

Insider Buying and Selling at JELD-WEN

In related news, major shareholder Turtle Creek Asset Management acquired 200,000 shares of the stock in a transaction on Thursday, November 7th. The stock was acquired at an average cost of $10.48 per share, for a total transaction of $2,096,000.00. Following the completion of the acquisition, the insider now directly owns 11,941,452 shares of the company’s stock, valued at approximately $125,146,416.96. This represents a 1.70 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JELD. Bank of New York Mellon Corp raised its holdings in JELD-WEN by 19.2% in the second quarter. Bank of New York Mellon Corp now owns 1,366,034 shares of the company’s stock worth $18,400,000 after purchasing an additional 220,177 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of JELD-WEN by 102.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,381 shares of the company’s stock worth $59,000 after acquiring an additional 2,216 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in JELD-WEN by 43.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,734 shares of the company’s stock valued at $320,000 after acquiring an additional 7,203 shares during the period. Panagora Asset Management Inc. boosted its stake in JELD-WEN by 4.1% during the second quarter. Panagora Asset Management Inc. now owns 376,032 shares of the company’s stock worth $5,065,000 after acquiring an additional 14,841 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in JELD-WEN in the second quarter worth about $30,000. Institutional investors own 95.04% of the company’s stock.

JELD-WEN Stock Down 3.3 %

The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $12.06 and its two-hundred day simple moving average is $13.70. The firm has a market cap of $717.58 million, a P/E ratio of -4.63 and a beta of 2.12.

JELD-WEN (NYSE:JELD) last released its 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). JELD-WEN had a positive return on equity of 12.32% and a negative net margin of 3.98%. The company had revenue of $934.70 million during the quarter, compared to the consensus estimate of $990.64 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue was down 13.2% compared to the same quarter last year. As a group, research analysts forecast that JELD-WEN Holding, Inc. will post 0.73 earnings per share for the current year.

JELD-WEN Company Profile

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.