Royal Bank of Canada Cuts JELD-WEN (NYSE:JELD) Price Target to $8.00

JELD-WEN (NYSE:JELD) had its price objective decreased by Royal Bank of Canada from $9.00 to $8.00 in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an underperform rating on the stock.

Several other research firms have also recently issued reports on JELD. UBS Group lowered their price objective on shares of JELD-WEN from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their price target on shares of JELD-WEN from $17.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Barclays dropped their price objective on 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. Jefferies Financial Group lifted their target price on JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, B. Riley dropped their price target on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.63.

JELD-WEN Trading Down 0.7 %

Shares of NYSE JELD opened at $8.42 on Wednesday. JELD-WEN has a fifty-two week low of $8.30 and a fifty-two week high of $21.75. 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 market cap of $712.50 million, a price-to-earnings ratio of -4.60 and a beta of 2.12. The business’s 50 day moving average price is $11.80 and its 200-day moving average price is $13.61.

JELD-WEN (NYSE:JELD) last released its earnings results 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). 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 revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. On average, sell-side analysts expect that JELD-WEN will post 0.73 earnings per share for the current year.

Insider Activity

In other news, major shareholder Turtle Creek Asset Management acquired 450,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average price of $10.06 per share, with a total value of $4,527,000.00. Following the transaction, the insider now directly owns 11,751,912 shares in the company, valued at approximately $118,224,234.72. This represents a 3.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On JELD-WEN

Several institutional investors have recently bought and sold shares of JELD. SummerHaven Investment Management LLC lifted its holdings in shares of JELD-WEN by 2.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 42,076 shares of the company’s stock valued at $567,000 after purchasing an additional 1,025 shares during the last quarter. Blue Trust Inc. increased its position in JELD-WEN by 79.8% during the 3rd quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock valued at $46,000 after buying an additional 1,284 shares in the last quarter. Sei Investments Co. increased its position in JELD-WEN by 13.2% during the 2nd quarter. Sei Investments Co. now owns 17,999 shares of the company’s stock valued at $242,000 after buying an additional 2,100 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in JELD-WEN by 102.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,381 shares of the company’s stock valued at $59,000 after buying an additional 2,216 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in JELD-WEN in the second quarter worth about $30,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.