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

JELD-WEN Holding, Inc. (NYSE:JELD)’s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $7.74, but opened at $8.17. JELD-WEN shares last traded at $8.57, with a volume of 155,347 shares changing hands.

Specifically, major shareholder Turtle Creek Asset Management acquired 110,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were purchased at an average cost of $7.65 per share, with a total value of $841,500.00. Following the completion of the acquisition, the insider now directly owns 12,259,784 shares of the company’s stock, valued at $93,787,347.60. This represents a 0.91 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Turtle Creek Asset Management purchased 125,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $7.90 per share, with a total value of $987,500.00. Following the transaction, the insider now owns 12,042,190 shares in the company, valued at $95,133,301. This trade represents a 1.05 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on JELD-WEN from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Wednesday, December 18th. The Goldman Sachs Group dropped their price objective on shares of JELD-WEN from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday. B. Riley reduced their target price on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. UBS Group reiterated a “neutral” rating and set a $9.00 price objective (down previously from $15.00) on shares of JELD-WEN in a research note on Wednesday, January 8th. Finally, Barclays dropped 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, November 6th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat.com, JELD-WEN has a consensus rating of “Hold” and an average price target of $12.75.

JELD-WEN Trading Up 4.9 %

The firm has a market capitalization of $753.96 million, a price-to-earnings ratio of -4.87 and a beta of 2.16. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.33 and a current ratio of 2.03. The company has a 50 day moving average price of $9.66 and a two-hundred day moving average price of $12.97.

JELD-WEN (NYSE:JELD) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $990.64 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. On average, research analysts forecast that JELD-WEN Holding, Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On JELD-WEN

Several hedge funds and other institutional investors have recently made changes to their positions in JELD. First Hawaiian Bank lifted its holdings in JELD-WEN by 26.7% in the 4th quarter. First Hawaiian Bank now owns 70,893 shares of the company’s stock valued at $581,000 after purchasing an additional 14,939 shares in the last quarter. Diversified Trust Co raised its holdings in JELD-WEN by 8.8% in the 4th quarter. Diversified Trust Co now owns 27,614 shares of the company’s stock valued at $226,000 after acquiring an additional 2,242 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in JELD-WEN by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 130,078 shares of the company’s stock worth $2,057,000 after purchasing an additional 10,154 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of JELD-WEN by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,945,899 shares of the company’s stock worth $30,771,000 after purchasing an additional 9,468 shares during the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in shares of JELD-WEN in the third quarter valued at approximately $278,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.