JELD-WEN (NYSE:JELD) Shares Gap Down – What’s Next?

JELD-WEN Holding, Inc. (NYSE:JELD) gapped down before the market opened on Wednesday . The stock had previously closed at $7.96, but opened at $7.63. JELD-WEN shares last traded at $7.66, with a volume of 114,369 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JELD. The Goldman Sachs Group cut their price objective on JELD-WEN from $17.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group boosted their price objective on shares of JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. B. Riley lowered their target price on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Barclays dropped their target price on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group restated a “neutral” rating and set a $9.00 price target (down from $15.00) on shares of JELD-WEN in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.88.

JELD-WEN Stock Performance

The firm’s fifty day moving average price is $9.91 and its 200-day moving average price is $13.04. The company has a market cap of $655.81 million, a P/E ratio of -4.23 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 issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 12.32%. The firm had revenue of $934.70 million for the quarter, compared to the consensus estimate of $990.64 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue was down 13.2% on a year-over-year basis. As a group, research analysts forecast that JELD-WEN Holding, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity at JELD-WEN

In related news, major shareholder Turtle Creek Asset Management acquired 450,000 shares of the stock in a transaction dated 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 purchase, the insider now owns 11,751,912 shares in the company, valued at approximately $118,224,234.72. This trade represents a 3.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JELD-WEN

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in JELD-WEN by 79.8% during the third quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock worth $46,000 after buying an additional 1,284 shares during the last quarter. MQS Management LLC bought a new stake in JELD-WEN during the 3rd quarter worth approximately $160,000. Xponance Inc. bought a new stake in JELD-WEN during the 2nd quarter worth approximately $198,000. K2 Principal Fund L.P. acquired a new stake in JELD-WEN during the 3rd quarter valued at $278,000. Finally, Sei Investments Co. raised its position in JELD-WEN by 13.2% in the 2nd quarter. Sei Investments Co. now owns 17,999 shares of the company’s stock valued at $242,000 after purchasing an additional 2,100 shares during the last quarter. 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.