JELD-WEN (NYSE:JELD) Shares Gap Down Following Weak Earnings

JELD-WEN Holding, Inc. (NYSE:JELD)’s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.79, but opened at $8.32. JELD-WEN shares last traded at $7.47, with a volume of 282,536 shares traded.

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 during 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%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on JELD shares. StockNews.com cut shares of JELD-WEN from a “hold” rating to a “sell” rating in a research report on Wednesday. UBS Group reduced their target price on JELD-WEN from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada lowered their price target on JELD-WEN from $7.00 to $5.00 and set an “underperform” rating for the company in a report on Wednesday. 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, Loop Capital reduced their target price on shares of JELD-WEN from $10.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, JELD-WEN currently has an average rating of “Hold” and a consensus target price of $9.56.

Insider Buying and Selling

In other news, major shareholder Turtle Creek Asset Management purchased 75,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were acquired at an average price of $8.46 per share, for a total transaction of $634,500.00. Following the purchase, the insider now owns 12,320,226 shares in the company, valued at $104,229,111.96. This trade represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 310,000 shares of company stock worth $2,463,500 in the last three months. Corporate insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Performa Ltd US LLC grew its position in JELD-WEN by 1,580.0% during the 4th quarter. Performa Ltd US LLC now owns 4,200 shares of the company’s stock worth $34,000 after purchasing an additional 3,950 shares during the period. Blue Trust Inc. lifted its holdings in JELD-WEN by 79.8% in the third quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock valued at $46,000 after acquiring an additional 1,284 shares during the period. Quarry LP purchased a new stake in JELD-WEN in the 4th quarter worth approximately $46,000. US Bancorp DE boosted its position in JELD-WEN by 257.6% in the 4th quarter. US Bancorp DE now owns 9,752 shares of the company’s stock worth $80,000 after purchasing an additional 7,025 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of JELD-WEN during the 4th quarter worth approximately $83,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

JELD-WEN Stock Performance

The firm’s 50 day moving average is $8.73 and its 200-day moving average is $11.85. The stock has a market capitalization of $519.99 million, a price-to-earnings ratio of -2.76 and a beta of 2.17. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.33 and a current ratio of 2.03.

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.