JELD-WEN (NYSE:JELD) Stock Price Down 4.7% Following Analyst Downgrade

JELD-WEN Holding, Inc. (NYSE:JELD)’s stock price was down 4.7% 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 changed hands during mid-day trading, a decline of 65% from the average daily volume of 686,564 shares. The stock had previously closed at $9.88.

JELD has been the subject of several other reports. UBS Group reduced their price objective on JELD-WEN from $19.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on shares of JELD-WEN from $17.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Barclays lowered their price objective on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group increased their price objective on shares of JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, B. Riley decreased their price target 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, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, JELD-WEN has a consensus rating of “Hold” and a consensus price target of $14.44.

Insiders Place Their Bets

In other news, major shareholder Turtle Creek Asset Management bought 450,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $10.06 per share, for a total transaction of $4,527,000.00. Following the completion of the transaction, the insider now owns 11,751,912 shares in the company, valued at $118,224,234.72. This trade represents a 3.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On JELD-WEN

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of JELD-WEN by 1,167.9% in the 3rd 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. Pzena Investment Management LLC lifted its stake in shares of JELD-WEN by 26.3% in the 2nd quarter. Pzena Investment Management LLC now owns 9,320,851 shares of the company’s stock valued at $125,552,000 after purchasing an additional 1,939,052 shares during the period. Engine Capital Management LP raised its stake in shares of JELD-WEN by 223.6% in the 2nd quarter. Engine Capital Management LP now owns 1,162,303 shares of the company’s stock valued at $15,656,000 after purchasing an additional 803,095 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of JELD-WEN by 57.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock worth $33,200,000 after purchasing an additional 764,645 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of JELD-WEN in the second quarter valued at $5,342,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

JELD-WEN Stock Down 5.1 %

The stock has a market cap of $793.74 million, a P/E ratio of -5.17 and a beta of 2.12. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64. The firm has a 50-day simple moving average of $12.20 and a two-hundred day simple moving average of $13.73.

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