UBS Group Cuts JELD-WEN (NYSE:JELD) Price Target to $7.50

JELD-WEN (NYSE:JELD) had its price objective reduced by UBS Group from $9.00 to $7.50 in a report released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday. 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 report on Wednesday, December 18th. Barclays reduced their price target on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, B. Riley reduced their price target 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. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.56.

JELD-WEN Stock Performance

Shares of NYSE:JELD opened at $5.97 on Wednesday. JELD-WEN has a 52 week low of $5.79 and a 52 week high of $21.75. The company has a quick ratio of 1.33, a current ratio of 2.03 and a debt-to-equity ratio of 1.64. The firm has a fifty day simple moving average of $8.56 and a two-hundred day simple moving average of $11.75. The stock has a market capitalization of $504.76 million, a P/E ratio of -2.67 and a beta of 2.17.

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

Insiders Place Their Bets

In related news, major shareholder Turtle Creek Asset Management bought 125,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 12,042,190 shares of the company’s stock, valued at approximately $95,133,301. This trade represents a 1.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have purchased 310,000 shares of company stock valued at $2,463,500. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in JELD-WEN by 1,167.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock valued at $34,504,000 after purchasing an additional 2,010,275 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of JELD-WEN by 16.5% during 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 during the last quarter. Alberta Investment Management Corp acquired a new position in shares of JELD-WEN during the 4th quarter valued at about $9,492,000. Parkwood LLC purchased a new stake in shares of JELD-WEN during the 4th quarter worth about $8,815,000. Finally, Turtle Creek Asset Management Inc. grew its holdings in shares of JELD-WEN by 7.2% during the 4th 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 period. Institutional investors and hedge funds 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.