JELD-WEN (NYSE:JELD) Cut to “Sell” at StockNews.com

StockNews.com cut shares of JELD-WEN (NYSE:JELD) from a hold rating to a sell rating in a research report released on Friday morning.

Several other brokerages have also issued reports on JELD. The Goldman Sachs Group dropped 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, February 19th. Royal Bank of Canada lowered their price objective on shares of JELD-WEN from $7.00 to $5.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Truist Financial lowered their price objective on shares of JELD-WEN from $11.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Barclays decreased their target price on shares of JELD-WEN from $9.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, UBS Group decreased their target price on shares of JELD-WEN from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.06.

JELD-WEN Stock Up 4.1 %

JELD opened at $6.17 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33. The company’s 50-day moving average is $7.96 and its 200 day moving average is $11.15. JELD-WEN has a fifty-two week low of $5.44 and a fifty-two week high of $21.75. The firm has a market capitalization of $523.10 million, a P/E ratio of -2.76 and a beta of 2.22.

JELD-WEN (NYSE:JELD) last posted its quarterly earnings data on Monday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.20). The company had revenue of $895.70 million for the quarter, compared to analysts’ expectations of $860.82 million. JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. Research analysts expect that JELD-WEN will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Turtle Creek Asset Management acquired 86,801 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $5.62 per share, with a total value of $487,821.62. Following the completion of the purchase, the insider now directly owns 12,389,409 shares of the company’s stock, valued at $69,628,478.58. This represents a 0.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David G. Nord acquired 20,000 shares of the company’s stock in a transaction on Monday, February 24th. The shares were purchased at an average cost of $5.96 per share, with a total value of $119,200.00. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $238,400. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 525,137 shares of company stock valued at $3,719,287. 1.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JELD-WEN

A number of large investors have recently added to or reduced their stakes in the company. Performa Ltd US LLC increased its holdings in shares of JELD-WEN by 1,580.0% during the fourth quarter. Performa Ltd US LLC now owns 4,200 shares of the company’s stock valued at $34,000 after acquiring an additional 3,950 shares in the last quarter. Quarry LP purchased a new stake in JELD-WEN in the fourth quarter valued at approximately $46,000. US Bancorp DE boosted its position in JELD-WEN by 257.6% in the fourth quarter. US Bancorp DE now owns 9,752 shares of the company’s stock valued at $80,000 after buying an additional 7,025 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in JELD-WEN in the fourth quarter valued at approximately $83,000. Finally, Boothbay Fund Management LLC purchased a new stake in JELD-WEN in the 4th quarter worth approximately $100,000. 95.04% of the stock is currently owned by institutional investors.

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.