Janus International Group (NYSE:JBI) Stock Price Down 4.2% on Disappointing Earnings

Janus International Group, Inc. (NYSE:JBI)’s share price fell 4.2% during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $3.75 and last traded at $3.7450. 273,614 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,749,672 shares. The stock had previously closed at $3.91.

The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The firm had revenue of $213.10 million for the quarter, compared to the consensus estimate of $235.00 million. Janus International Group had a net margin of 3.68% and a return on equity of 11.27%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share.

Janus International Group News Summary

These are some of the JBI news items that stood out recently:

• Positive Sentiment: KeyCorp lowered its price target to $7 from $9 but maintained an Overweight rating, implying substantial upside from the cited share price. KeyCorp recommendations
• Negative Sentiment: JBI reported third-quarter EPS of $0.08, below analyst estimates of roughly $0.17–$0.18 and down from $0.16 a year earlier. Revenue of $213.1 million also missed the $235 million consensus and declined 2.8% year over year. Zacks earnings report
• Negative Sentiment: A Seeking Alpha article argued for a cautious downgrade, adding to the bearish tone around the results. Seeking Alpha analysis

Analyst Ratings Changes

Several analysts have issued reports on JBI shares. UBS Group cut their price objective on Janus International Group from $6.00 to $5.60 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. KeyCorp reduced their price objective on Janus International Group from $9.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Janus International Group in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.30.

Institutional Investors Weigh In On Janus International Group

Several hedge funds have recently made changes to their positions in JBI. Ieq Capital LLC boosted its stake in Janus International Group by 69.4% during the third quarter. Ieq Capital LLC now owns 302,521 shares of the company’s stock worth $1,237,000 after buying an additional 123,897 shares in the last quarter. Focus Advisor Solutions LLC bought a new position in shares of Janus International Group in the third quarter valued at about $88,000. Russell Investments Group Ltd. lifted its position in shares of Janus International Group by 61.0% during the third quarter. Russell Investments Group Ltd. now owns 105,646 shares of the company’s stock worth $432,000 after purchasing an additional 40,047 shares in the last quarter. DBA Trading LLC boosted its position in Janus International Group by 525.0% in the 3rd quarter. DBA Trading LLC now owns 250,000 shares of the company’s stock valued at $1,022,000 after buying an additional 210,000 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in Janus International Group by 23.8% in the third quarter. Brighton Jones LLC now owns 19,945 shares of the company’s stock valued at $82,000 after acquiring an additional 3,838 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Janus International Group Stock Performance

The stock’s 50 day moving average is $4.43 and its two-hundred day moving average is $5.30. The firm has a market capitalization of $516.43 million, a P/E ratio of 15.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.94 and a quick ratio of 2.50.

Janus International Group Company Profile

Janus International Group designs, manufactures and supplies building components and technology for self-storage facilities, as well as products for commercial and industrial applications. Its offerings include roll-up doors, hallway systems, relocatable storage units and other facility components, along with installation and facility-improvement services. The company also provides access-control and automation products, including its Nokē smart-entry solutions, which help self-storage operators manage facility access.