Royal Bank of Canada Issues Pessimistic Forecast for JELD-WEN (NYSE:JELD) Stock Price

JELD-WEN (NYSE:JELD) had its target price lowered by equities researchers at Royal Bank of Canada from $7.00 to $5.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 18.63% from the company’s current price.

Several other equities analysts have also issued reports on JELD. Barclays dropped their target price on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. UBS Group dropped their target price on shares of JELD-WEN from $9.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday. B. Riley decreased their price target on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their price target on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.56.

JELD-WEN Price Performance

JELD stock opened at $6.15 on Wednesday. The firm has a market cap of $519.99 million, a price-to-earnings ratio of -2.76 and a beta of 2.17. The company has a quick ratio of 1.33, a current ratio of 2.03 and a debt-to-equity ratio of 1.64. JELD-WEN has a 12-month low of $5.79 and a 12-month high of $21.75. The company’s fifty day simple moving average is $8.65 and its 200 day simple moving average is $11.81.

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

Insider Transactions at JELD-WEN

In other JELD-WEN news, major shareholder Turtle Creek Asset Management bought 75,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was bought at an average cost of $8.46 per share, with a total value of $634,500.00. Following the completion of the transaction, the insider now directly owns 12,320,226 shares in the company, valued at approximately $104,229,111.96. The trade was a 0.61 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired a total of 310,000 shares of company stock valued at $2,463,500 over the last three months. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On JELD-WEN

Several hedge funds and other institutional investors have recently made changes to their positions in JELD. Victory Capital Management Inc. increased its position in shares of JELD-WEN by 1,167.9% during the third quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after acquiring an additional 2,010,275 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in JELD-WEN by 16.5% during 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 last quarter. Alberta Investment Management Corp purchased a new position in JELD-WEN during the fourth quarter worth about $9,492,000. Parkwood LLC purchased a new position in JELD-WEN during the fourth quarter worth about $8,815,000. Finally, Turtle Creek Asset Management Inc. boosted its holdings in JELD-WEN by 7.2% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 14,842,920 shares of the company’s stock worth $121,564,000 after purchasing an additional 1,000,000 shares during the last quarter. 95.04% of the stock is 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.