JELD-WEN Holding, Inc. (NYSE:JELD – Get Rating) shares gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $17.78, but opened at $15.34. JELD-WEN shares last traded at $14.01, with a volume of 12,500 shares trading hands.
The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). JELD-WEN had a return on equity of 18.58% and a net margin of 2.94%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on JELD shares. Wells Fargo & Company lowered shares of JELD-WEN from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a report on Tuesday, June 28th. B. Riley decreased their price objective on shares of JELD-WEN from $22.00 to $17.00 in a report on Tuesday. The Goldman Sachs Group decreased their price objective on shares of JELD-WEN from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. Robert W. Baird decreased their price objective on shares of JELD-WEN from $25.00 to $22.00 in a report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of JELD-WEN from $18.50 to $15.00 in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, JELD-WEN has a consensus rating of “Hold” and an average target price of $18.00.
Insider Buying and Selling at JELD-WEN
In other news, major shareholder Turtle Creek Asset Management acquired 50,000 shares of the company’s stock in a transaction on Tuesday, June 21st. The shares were bought at an average cost of $13.15 per share, with a total value of $657,500.00. Following the transaction, the insider now owns 10,880,510 shares in the company, valued at approximately $143,078,706.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.81% of the company’s stock.
Institutional Investors Weigh In On JELD-WEN
A number of large investors have recently modified their holdings of JELD. Point72 Hong Kong Ltd purchased a new stake in shares of JELD-WEN in the 4th quarter valued at approximately $26,000. Quantbot Technologies LP grew its position in shares of JELD-WEN by 182.7% in the 1st quarter. Quantbot Technologies LP now owns 2,951 shares of the company’s stock valued at $59,000 after buying an additional 1,907 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of JELD-WEN in the 2nd quarter valued at $61,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of JELD-WEN by 19.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,343 shares of the company’s stock valued at $88,000 after buying an additional 539 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of JELD-WEN by 24.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,383 shares of the company’s stock valued at $95,000 after buying an additional 873 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.
JELD-WEN Price Performance
The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.29 and a current ratio of 2.02. The stock’s 50-day moving average is $16.25 and its 200 day moving average is $19.75. The stock has a market capitalization of $1.38 billion, a PE ratio of 10.95 and a beta of 2.21.
About JELD-WEN
JELD-WEN Holding, Inc designs, manufactures, and sells doors and windows primarily in North America, Europe, and Australasia. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; and wood, vinyl, aluminum, and wood composite windows.