JELD-WEN (NYSE:JELD) Stock Price Down 4.7% on Analyst Downgrade

JELD-WEN Holding, Inc. (NYSE:JELD) dropped 4.7% during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $9.00 to $8.00. Royal Bank of Canada currently has an underperform rating on the stock. JELD-WEN traded as low as $9.40 and last traded at $9.42. Approximately 236,955 shares were traded during trading, a decline of 65% from the average daily volume of 686,564 shares. The stock had previously closed at $9.88.

Several other analysts also recently commented on JELD. UBS Group decreased their price objective on shares of JELD-WEN from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group raised their price target on JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. B. Riley dropped their price objective on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group decreased their target price 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. Finally, Barclays lowered their price target on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.44.

Insider Activity at JELD-WEN

In other JELD-WEN news, major shareholder Turtle Creek Asset Management acquired 450,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $10.06 per share, with a total value of $4,527,000.00. Following the purchase, the insider now directly owns 11,751,912 shares of the company’s stock, valued at approximately $118,224,234.72. This represents a 3.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in JELD. Pzena Investment Management LLC raised its position in JELD-WEN by 2.8% during the third quarter. Pzena Investment Management LLC now owns 9,582,008 shares of the company’s stock valued at $151,492,000 after purchasing an additional 261,157 shares during the period. Dimensional Fund Advisors LP raised its holdings in JELD-WEN by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock valued at $43,461,000 after buying an additional 191,657 shares during the period. Victory Capital Management Inc. lifted its position in JELD-WEN by 1,167.9% in the third quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after buying an additional 2,010,275 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in JELD-WEN by 57.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock worth $33,200,000 after buying an additional 764,645 shares during the period. Finally, State Street Corp increased its position in JELD-WEN by 1.1% during the third quarter. State Street Corp now owns 1,998,363 shares of the company’s stock valued at $31,594,000 after acquiring an additional 21,264 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

JELD-WEN Price Performance

The stock’s 50-day simple moving average is $12.20 and its two-hundred day simple moving average is $13.73. The firm has a market cap of $742.12 million, a P/E ratio of -4.79 and a beta of 2.12. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33.

JELD-WEN (NYSE:JELD) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $934.70 million for the quarter, compared to the consensus estimate of $990.64 million. JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 12.32%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities research analysts forecast that JELD-WEN Holding, Inc. will post 0.73 earnings per share for the current fiscal year.

About JELD-WEN

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.