JELD-WEN (NYSE:JELD) Shares Gap Up Following Insider Buying Activity

JELD-WEN Holding, Inc. (NYSE:JELD)’s share price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $7.74, but opened at $8.17. JELD-WEN shares last traded at $8.57, with a volume of 155,347 shares traded.

Specifically, major shareholder Turtle Creek Asset Management acquired 110,000 shares of the stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $7.65 per share, with a total value of $841,500.00. Following the completion of the purchase, the insider now directly owns 12,259,784 shares of the company’s stock, valued at $93,787,347.60. This represents a 0.91 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Turtle Creek Asset Management bought 125,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $7.90 per share, with a total value of $987,500.00. Following the transaction, the insider now directly owns 12,042,190 shares in the company, valued at approximately $95,133,301. This trade represents a 1.05 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

JELD has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target 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. B. Riley decreased their price objective on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. UBS Group reiterated a “neutral” rating and issued a $9.00 target price (down from $15.00) on shares of JELD-WEN in a research note on Wednesday, January 8th. Barclays decreased their price target on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price objective on JELD-WEN from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.88.

JELD-WEN Price Performance

The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average price is $9.78 and its two-hundred day moving average price is $13.00. The stock has a market cap of $719.27 million, a P/E ratio of -4.64 and a beta of 2.16.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JELD. Victory Capital Management Inc. increased its stake in shares of JELD-WEN by 1,167.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after purchasing an additional 2,010,275 shares in the last quarter. Engine Capital Management LP increased its position in JELD-WEN by 223.6% in the second quarter. Engine Capital Management LP now owns 1,162,303 shares of the company’s stock worth $15,656,000 after buying an additional 803,095 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of JELD-WEN by 57.3% in 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. Pzena Investment Management LLC lifted its position in shares of JELD-WEN by 2.8% during the 3rd quarter. Pzena Investment Management LLC now owns 9,582,008 shares of the company’s stock valued at $151,492,000 after buying an additional 261,157 shares in the last quarter. Finally, Beaconlight Capital LLC grew its stake in shares of JELD-WEN by 227.9% during the 3rd quarter. Beaconlight Capital LLC now owns 277,272 shares of the company’s stock valued at $4,384,000 after acquiring an additional 192,724 shares during the period. Institutional investors own 95.04% of the company’s stock.

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.