JELD-WEN (NYSE:JELD) Sees Large Volume Increase – Should You Buy?

JELD-WEN Holding, Inc. (NYSE:JELD) shares saw unusually-high trading volume on Wednesday . Approximately 1,531,154 shares were traded during trading, an increase of 40% from the previous session’s volume of 1,090,249 shares.The stock last traded at $6.01 and had previously closed at $5.84.

Analyst Ratings Changes

Several analysts recently issued reports on JELD shares. The Goldman Sachs Group cut their price target on JELD-WEN from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Truist Financial dropped their price objective on shares of JELD-WEN from $11.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered shares of JELD-WEN from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Loop Capital dropped their price target on shares of JELD-WEN from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada cut their price target on JELD-WEN from $7.00 to $5.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.06.

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 cap of $491.28 million, a price-to-earnings ratio of -2.58 and a beta of 1.92. The company’s 50 day simple moving average is $7.00 and its 200 day simple moving average is $10.13.

JELD-WEN (NYSE:JELD) last announced its quarterly earnings data on Monday, February 17th. The company reported ($0.13) earnings per share 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, equities research analysts anticipate that JELD-WEN Holding, Inc. will post 0.88 earnings per share for the current year.

Insider Activity

In related news, major shareholder Turtle Creek Asset Management acquired 110,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $7.65 per share, for a total transaction of $841,500.00. Following the transaction, the insider now owns 12,259,784 shares of the company’s stock, valued at approximately $93,787,347.60. The trade was a 0.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven E. Wynne bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $6.01 per share, for a total transaction of $60,100.00. Following the completion of the acquisition, the director now directly owns 28,000 shares in the company, valued at approximately $168,280. The trade was a 55.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 645,137 shares of company stock worth $4,435,687. Corporate insiders own 1.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC lifted its position in shares of JELD-WEN by 16.5% in the 4th quarter. Pzena Investment Management LLC now owns 11,165,246 shares of the company’s stock valued at $91,443,000 after acquiring an additional 1,583,238 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in JELD-WEN during the 4th quarter valued at $9,492,000. Parkwood LLC purchased a new stake in shares of JELD-WEN in the fourth quarter valued at $8,815,000. Turtle Creek Asset Management Inc. boosted its position in shares of JELD-WEN by 7.2% in the fourth 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. Finally, American Century Companies Inc. grew its holdings 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 buying an additional 634,101 shares in the last quarter. 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.