The Goldman Sachs Group Cuts JELD-WEN (NYSE:JELD) Price Target to $9.00

JELD-WEN (NYSE:JELD) had its price objective cut by The Goldman Sachs Group from $10.00 to $9.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also commented on JELD. Royal Bank of Canada reduced their price target on shares of JELD-WEN from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Wednesday, December 18th. B. Riley reduced their target price on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Barclays dropped their price objective on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. UBS Group restated a “neutral” rating and set a $9.00 target price (down previously from $15.00) on shares of JELD-WEN in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised their price target on JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, JELD-WEN has an average rating of “Hold” and an average price target of $12.75.

JELD-WEN Price Performance

JELD stock opened at $8.91 on Tuesday. 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 $753.96 million, a price-to-earnings ratio of -4.87 and a beta of 2.16. JELD-WEN has a 12-month low of $7.43 and a 12-month high of $21.75. The firm’s 50-day moving average price is $9.64 and its two-hundred day moving average price is $12.94.

JELD-WEN (NYSE:JELD) last announced its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). JELD-WEN had a positive return on equity of 12.32% and a negative net margin of 3.98%. The firm had revenue of $934.70 million during the quarter, compared to the consensus estimate of $990.64 million. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue was down 13.2% on a year-over-year basis. As a group, equities analysts predict that JELD-WEN will post 0.73 earnings per share for the current year.

Insider Activity at JELD-WEN

In other JELD-WEN news, major shareholder Turtle Creek Asset Management purchased 200,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were purchased at an average cost of $10.48 per share, with a total value of $2,096,000.00. Following the completion of the purchase, the insider now owns 11,941,452 shares in the company, valued at approximately $125,146,416.96. This represents a 1.70 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have bought 885,000 shares of company stock worth $8,452,000. 1.03% of the stock is owned by company insiders.

Institutional Trading of JELD-WEN

Several institutional investors have recently made changes to their positions in JELD. Victory Capital Management Inc. lifted its stake in JELD-WEN by 64.7% during the 2nd quarter. Victory Capital Management Inc. now owns 172,126 shares of the company’s stock worth $2,319,000 after acquiring an additional 67,604 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in JELD-WEN by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 149,434 shares of the company’s stock valued at $2,013,000 after buying an additional 14,574 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of JELD-WEN by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock worth $43,461,000 after acquiring an additional 191,657 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in JELD-WEN in the second quarter valued at $817,000. Finally, First Eagle Investment Management LLC lifted its stake in JELD-WEN by 1.3% in the second quarter. First Eagle Investment Management LLC now owns 341,184 shares of the company’s stock valued at $4,596,000 after buying an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.