JELD-WEN (NYSE:JELD) Reaches New 52-Week Low Following Weak Earnings

JELD-WEN Holding, Inc. (NYSE:JELD)’s stock price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $9.03 and last traded at $9.05, with a volume of 530772 shares changing hands. The stock had previously closed at $14.13.

The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business had revenue of $934.70 million for the quarter, compared to analyst estimates of $990.64 million. JELD-WEN had a positive return on equity of 11.97% and a negative net margin of 3.98%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JELD. Royal Bank of Canada lowered their price target on JELD-WEN from $13.00 to $9.00 and set an “underperform” rating on the stock in a report on Wednesday. Loop Capital lowered their target price on shares of JELD-WEN from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. 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 report on Wednesday. The Goldman Sachs Group dropped 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. Finally, Jefferies Financial Group increased their target price on JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.50.

Hedge Funds Weigh In On JELD-WEN

Several large investors have recently added to or reduced their stakes in JELD. Vaughan Nelson Investment Management L.P. grew its holdings 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. Natixis Advisors LLC boosted its stake in JELD-WEN by 78.1% during the third quarter. Natixis Advisors LLC now owns 411,660 shares of the company’s stock worth $6,508,000 after buying an additional 180,511 shares in the last quarter. Empowered Funds LLC increased its holdings in JELD-WEN by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 408,487 shares of the company’s stock valued at $6,458,000 after buying an additional 20,770 shares during the period. MQS Management LLC acquired a new position in shares of JELD-WEN in the 3rd quarter valued at $160,000. Finally, Victory Capital Management Inc. boosted its position in shares of JELD-WEN by 1,167.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock valued at $34,504,000 after acquiring an additional 2,010,275 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

JELD-WEN Stock Performance

The firm has a market cap of $918.95 million, a P/E ratio of -5.94 and a beta of 2.25. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.03 and a quick ratio of 1.33. The stock’s 50 day moving average is $14.72 and its two-hundred day moving average is $15.03.

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.