JELD-WEN (NYSE:JELD) Shares Gap Down on Disappointing Earnings

Shares of JELD-WEN Holding, Inc. (NYSE:JELD) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. 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.

The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.20). The company had revenue of $895.70 million for the quarter, compared to the consensus estimate of $860.82 million. JELD-WEN had a negative net margin of 5.01% and a positive return on equity of 7.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on JELD shares. UBS Group dropped their price objective on JELD-WEN from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays dropped their price target on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Truist Financial decreased their price objective on JELD-WEN from $11.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday. B. Riley lowered their price objective on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group cut their target price on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, JELD-WEN presently has an average rating of “Hold” and a consensus target price of $9.56.

Insider Activity

In other JELD-WEN news, major shareholder Turtle Creek Asset Management acquired 75,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was bought at an average price of $8.46 per share, with a total value of $634,500.00. Following the completion of the acquisition, the insider now owns 12,320,226 shares of the company’s stock, valued at $104,229,111.96. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 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 Investors Weigh In On JELD-WEN

Several hedge funds have recently bought and sold shares of JELD. Blue Trust Inc. increased its holdings in shares of JELD-WEN by 79.8% in the 3rd quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock worth $46,000 after buying an additional 1,284 shares during the last quarter. Victory Capital Management Inc. increased its stake 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 valued at $34,504,000 after acquiring an additional 2,010,275 shares during the last quarter. MQS Management LLC purchased a new stake in JELD-WEN during the third quarter valued at about $160,000. Empowered Funds LLC raised its position in JELD-WEN by 5.4% during the third quarter. Empowered Funds LLC now owns 408,487 shares of the company’s stock valued at $6,458,000 after purchasing an additional 20,770 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in JELD-WEN by 78.1% during the third quarter. Natixis Advisors LLC now owns 411,660 shares of the company’s stock worth $6,508,000 after purchasing an additional 180,511 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

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 stock has a market capitalization of $519.99 million, a PE ratio of -2.76 and a beta of 2.17. The business has a fifty day moving average price of $8.73 and a 200-day moving average price of $11.85.

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.