JELD-WEN (NYSE:JELD) Shares Gap Down After Earnings Miss

JELD-WEN Holding, Inc. (NYSE:JELD) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $8.79, but opened at $8.32. JELD-WEN shares last traded at $7.47, with a volume of 282,536 shares changing hands.

The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $895.70 million for the quarter, compared to analyst estimates of $860.82 million.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lowered their price target on JELD-WEN from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada lowered their target price on shares of JELD-WEN from $7.00 to $5.00 and set an “underperform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group reduced their target price on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial lowered their price target on shares of JELD-WEN from $11.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Barclays cut their price objective 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. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, JELD-WEN currently has an average rating of “Hold” and an average target price of $9.56.

Insiders Place Their Bets

In other news, major shareholder Turtle Creek Asset Management purchased 110,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was acquired at an average price of $7.65 per share, for a total transaction of $841,500.00. Following the acquisition, the insider now directly owns 12,259,784 shares of the company’s stock, valued at approximately $93,787,347.60. This represents a 0.91 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 310,000 shares of company stock valued at $2,463,500 over the last ninety days. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Turtle Creek Asset Management Inc. raised its position in 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 valued at $121,564,000 after purchasing an additional 1,000,000 shares during the period. Pzena Investment Management LLC raised its holdings in 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 buying an additional 1,583,238 shares during the period. Vanguard Group Inc. lifted its position in JELD-WEN by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,545,071 shares of the company’s stock valued at $69,984,000 after buying an additional 101,944 shares during the last quarter. American Century Companies Inc. boosted its stake in JELD-WEN by 12.3% during the fourth quarter. American Century Companies Inc. now owns 5,775,940 shares of the company’s stock worth $47,305,000 after buying an additional 634,101 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of JELD-WEN by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,701,950 shares of the company’s stock valued at $30,319,000 after acquiring an additional 146,581 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

JELD-WEN Stock Up 4.0 %

The business’s 50 day moving average price is $8.73 and its 200-day moving average price is $11.85. 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 firm has a market capitalization of $519.99 million, a PE ratio of -2.76 and a beta of 2.17.

JELD-WEN Company Profile

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.