JELD-WEN (NYSE:JELD) Shares Down 5.5% – Here’s Why

Shares of JELD-WEN Holding, Inc. (NYSE:JELD) dropped 5.5% on Tuesday . The company traded as low as $9.36 and last traded at $9.33. Approximately 120,692 shares changed hands during trading, a decline of 84% from the average daily volume of 732,529 shares. The stock had previously closed at $9.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group raised their target price on JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. UBS Group reaffirmed a “neutral” rating and set a $9.00 price target (down from $15.00) on shares of JELD-WEN in a research report on Wednesday, January 8th. The Goldman Sachs Group decreased their price objective on JELD-WEN from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Barclays dropped their price objective on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Finally, B. Riley decreased their target price on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.75.

JELD-WEN Trading Down 6.1 %

The company has a fifty day moving average of $9.47 and a 200-day moving average of $12.71. The company has a market capitalization of $784.85 million, a price-to-earnings ratio of -5.07 and a beta of 2.16. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64.

JELD-WEN (NYSE:JELD) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business 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 12.32% and a negative net margin of 3.98%. The business’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, equities research analysts anticipate that JELD-WEN Holding, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at JELD-WEN

In related news, major shareholder Turtle Creek Asset Management bought 200,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was purchased at an average cost of $10.48 per share, with a total value of $2,096,000.00. Following the purchase, the insider now directly owns 11,941,452 shares of the company’s stock, valued at $125,146,416.96. This trade represents a 1.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased a total of 960,000 shares of company stock worth $9,086,500 over the last three months. Insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On JELD-WEN

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its holdings in JELD-WEN by 2.8% in the third quarter. Pzena Investment Management LLC now owns 9,582,008 shares of the company’s stock valued at $151,492,000 after buying an additional 261,157 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of JELD-WEN by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock worth $43,461,000 after acquiring an additional 191,657 shares in the last quarter. Victory Capital Management Inc. lifted its stake in JELD-WEN by 1,167.9% during the third quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after purchasing an additional 2,010,275 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in JELD-WEN by 57.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock valued at $33,200,000 after purchasing an additional 764,645 shares in the last quarter. Finally, State Street Corp increased its stake in JELD-WEN by 1.1% in the third quarter. State Street Corp now owns 1,998,363 shares of the company’s stock valued at $31,594,000 after purchasing an additional 21,264 shares during the last quarter. 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.