JELD-WEN (NYSE:JELD) Shares Gap Down Following Weak Earnings

JELD-WEN Holding, Inc. (NYSE:JELD) shares gapped down before the market opened on Tuesday following a dissappointing 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 traded.

The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.20). The company had revenue of $895.70 million during 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 Ratings Changes

JELD has been the topic of several recent analyst reports. B. Riley cut their target price on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. StockNews.com lowered shares of JELD-WEN from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada decreased their price objective on shares of JELD-WEN from $7.00 to $5.00 and set an “underperform” rating on the stock in a research report on Wednesday. Truist Financial dropped their target price on shares of JELD-WEN from $11.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday. Finally, UBS Group reduced their price target on JELD-WEN from $9.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.56.

Insider Activity at JELD-WEN

In other news, major shareholder Turtle Creek Asset Management purchased 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $7.90 per share, for a total transaction of $987,500.00. Following the completion of the transaction, the insider now directly owns 12,042,190 shares of the company’s stock, valued at $95,133,301. This trade represents a 1.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased 310,000 shares of company stock worth $2,463,500 over the last 90 days. 1.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On JELD-WEN

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Turtle Creek Asset Management Inc. grew its position in shares of 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 worth $121,564,000 after buying an additional 1,000,000 shares during the period. Pzena Investment Management LLC grew its holdings in JELD-WEN by 16.5% in the fourth quarter. Pzena Investment Management LLC now owns 11,165,246 shares of the company’s stock worth $91,443,000 after purchasing an additional 1,583,238 shares during the period. Vanguard Group Inc. increased its stake in shares of JELD-WEN by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,545,071 shares of the company’s stock valued at $69,984,000 after purchasing an additional 101,944 shares in the last quarter. American Century Companies Inc. increased its stake in shares of JELD-WEN by 12.3% during the fourth quarter. American Century Companies Inc. now owns 5,775,940 shares of the company’s stock valued at $47,305,000 after purchasing an additional 634,101 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of JELD-WEN by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,701,950 shares of the company’s stock valued at $30,319,000 after purchasing an additional 146,581 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

JELD-WEN Stock Performance

The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.33 and a current ratio of 2.03. The stock has a market capitalization of $519.99 million, a P/E ratio of -2.76 and a beta of 2.17. The business has a 50-day moving average price of $8.73 and a 200 day moving average price of $11.85.

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.