JELD-WEN (NYSE:JELD) Reaches New 52-Week Low on Analyst Downgrade

JELD-WEN Holding, Inc. (NYSE:JELD)’s stock price hit a new 52-week low on Wednesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $6.60 and last traded at $6.71, with a volume of 4665783 shares traded. The stock had previously closed at $8.79.

Other equities research analysts have also issued research reports about the stock. Loop Capital cut their price target on shares of JELD-WEN from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday. Truist Financial lowered their price objective on shares of JELD-WEN from $11.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday. Barclays decreased their target price on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. UBS Group decreased their target price on shares of JELD-WEN from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their price objective on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, JELD-WEN currently has a consensus rating of “Hold” and a consensus target price of $9.56.

Insiders Place Their Bets

In other JELD-WEN news, major shareholder Turtle Creek Asset Management purchased 110,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of $7.65 per share, for a total transaction of $841,500.00. Following the completion of the purchase, the insider now owns 12,259,784 shares of the company’s stock, valued at approximately $93,787,347.60. The trade was a 0.91 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have bought 310,000 shares of company stock valued at $2,463,500. 1.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JELD-WEN

Several institutional investors and hedge funds have recently modified their holdings of JELD. PharVision Advisers LLC bought a new position in shares of JELD-WEN in the fourth quarter worth about $172,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in JELD-WEN by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 216,899 shares of the company’s stock valued at $1,776,000 after purchasing an additional 31,640 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of JELD-WEN during the 4th quarter worth approximately $888,000. Squarepoint Ops LLC acquired a new stake in shares of JELD-WEN during the 4th quarter worth approximately $240,000. Finally, Turtle Creek Asset Management Inc. grew its position in JELD-WEN by 7.2% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 14,842,920 shares of the company’s stock valued at $121,564,000 after purchasing an additional 1,000,000 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

JELD-WEN Price Performance

The firm’s 50-day moving average is $8.65 and its 200-day moving average is $11.81. 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 released its earnings results on Monday, February 17th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.20). JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. The business had revenue of $895.70 million for the quarter, compared to the consensus estimate of $860.82 million. On average, sell-side analysts expect that JELD-WEN Holding, Inc. will post 0.88 earnings per share for the current 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.