Janus International Group (NYSE:JBI) Shares Gap Up on Better-Than-Expected Earnings

Janus International Group, Inc. (NYSE:JBI)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.06, but opened at $9.40. Janus International Group shares last traded at $8.98, with a volume of 1,245,340 shares trading hands.

The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Janus International Group had a return on equity of 21.10% and a net margin of 10.62%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on JBI shares. Jefferies Financial Group cut shares of Janus International Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $7.50 in a research note on Monday, November 4th. UBS Group decreased their price objective on Janus International Group from $12.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, KeyCorp dropped their target price on Janus International Group from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.25.

Hedge Funds Weigh In On Janus International Group

A number of hedge funds have recently made changes to their positions in JBI. Tower Research Capital LLC TRC raised its position in shares of Janus International Group by 42.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company’s stock worth $38,000 after buying an additional 1,544 shares during the period. Atria Investments Inc raised its holdings in shares of Janus International Group by 13.4% in the 3rd quarter. Atria Investments Inc now owns 13,889 shares of the company’s stock worth $140,000 after purchasing an additional 1,643 shares during the period. LPL Financial LLC lifted its stake in shares of Janus International Group by 5.4% in the 4th quarter. LPL Financial LLC now owns 35,829 shares of the company’s stock valued at $263,000 after purchasing an additional 1,839 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Janus International Group by 109.3% in the 4th quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock valued at $35,000 after purchasing an additional 2,506 shares in the last quarter. Finally, Applied Fundamental Research LLC grew its holdings in shares of Janus International Group by 0.4% during the 4th quarter. Applied Fundamental Research LLC now owns 790,594 shares of the company’s stock worth $5,811,000 after purchasing an additional 2,877 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Janus International Group Stock Performance

The stock’s 50-day moving average is $7.78 and its 200-day moving average is $8.68. The company has a current ratio of 2.80, a quick ratio of 2.39 and a debt-to-equity ratio of 1.11. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 12.45 and a beta of 0.92.

Janus International Group Company Profile

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.