JELD-WEN (NYSE:JELD) Reaches New 12-Month Low After Analyst Downgrade

Shares of JELD-WEN Holding, Inc. (NYSE:JELD) hit a new 52-week low during mid-day trading on Wednesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $6.60 and last traded at $6.71, with a volume of 4665783 shares changing hands. The stock had previously closed at $8.79.

Several other research analysts have also issued reports on the company. B. Riley dropped their price objective on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada dropped their target price on shares of JELD-WEN from $7.00 to $5.00 and set an “underperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday. Loop Capital dropped their price objective on shares of JELD-WEN from $10.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Barclays cut their target price on shares of 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. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.56.

Insiders Place Their Bets

In other news, major shareholder Turtle Creek Asset Management purchased 110,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $7.65 per share, with a total value of $841,500.00. Following the acquisition, the insider now directly owns 12,259,784 shares of the company’s stock, valued at approximately $93,787,347.60. This represents a 0.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have purchased 310,000 shares of company stock worth $2,463,500. Insiders own 1.03% of the company’s stock.

Institutional Trading of JELD-WEN

Several hedge funds have recently bought and sold shares of JELD. Victory Capital Management Inc. increased its position in shares of 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 acquiring an additional 2,010,275 shares in the last quarter. Pzena Investment Management LLC increased its holdings in JELD-WEN by 16.5% during the 4th quarter. Pzena Investment Management LLC now owns 11,165,246 shares of the company’s stock worth $91,443,000 after purchasing an additional 1,583,238 shares in the last quarter. Alberta Investment Management Corp bought a new position in JELD-WEN during the 4th quarter worth about $9,492,000. Parkwood LLC acquired a new stake in shares of JELD-WEN in the 4th quarter valued at about $8,815,000. Finally, Turtle Creek Asset Management Inc. lifted its holdings in shares of JELD-WEN by 7.2% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 14,842,920 shares of the company’s stock valued at $121,564,000 after purchasing an additional 1,000,000 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

JELD-WEN Stock Up 4.0 %

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 moving average price of $8.65 and a two-hundred day moving average price of $11.81.

JELD-WEN (NYSE:JELD) last issued its quarterly earnings results on Monday, February 17th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.20). The business had revenue of $895.70 million for the quarter, compared to the consensus estimate of $860.82 million. JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. As a group, equities research analysts anticipate that JELD-WEN Holding, Inc. will post 0.88 EPS for the current fiscal year.

About JELD-WEN

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.