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

JELD-WEN (NYSE:JELD) had its price target reduced by equities research analysts at Royal Bank of Canada from $13.00 to $9.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential downside of 15.49% from the stock’s previous close.

Several other brokerages have also commented on JELD. Loop Capital dropped their price objective on JELD-WEN from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Barclays reduced their price objective on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Jefferies Financial Group lifted their target price on JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group dropped their price objective on JELD-WEN from $17.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.90.

JELD-WEN Trading Up 7.4 %

JELD traded up $0.73 during trading hours on Wednesday, reaching $10.65. 804,932 shares of the company’s stock traded hands, compared to its average volume of 662,738. JELD-WEN has a 52-week low of $8.90 and a 52-week high of $21.75. The firm has a market capitalization of $900.38 million, a PE ratio of -5.91 and a beta of 2.25. The firm has a 50-day moving average price of $14.79 and a 200 day moving average price of $15.05. The company has a quick ratio of 1.33, a current ratio of 2.03 and a debt-to-equity ratio of 1.53.

JELD-WEN (NYSE:JELD) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). JELD-WEN had a negative net margin of 0.92% and a positive return on equity of 14.32%. The business had revenue of $934.70 million during the quarter, compared to analysts’ expectations of $990.64 million. During the same quarter last year, the business posted $0.53 earnings per share. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. As a group, sell-side analysts predict that JELD-WEN will post 1.29 EPS for the current fiscal year.

Institutional Trading of JELD-WEN

Several large investors have recently modified their holdings of JELD. Innealta Capital LLC acquired a new position in JELD-WEN in the second quarter worth about $30,000. Allspring Global Investments Holdings LLC grew its position in JELD-WEN by 790.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,165 shares of the company’s stock worth $46,000 after buying an additional 1,922 shares during the last quarter. Blue Trust Inc. grew its position in JELD-WEN by 79.8% during the 3rd quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock worth $46,000 after purchasing an additional 1,284 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of JELD-WEN during the 2nd quarter valued at $92,000. Finally, MQS Management LLC acquired a new stake in shares of JELD-WEN in the 3rd quarter valued at $160,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.