Janus International Group (NYSE:JBI) Shares Gap Up After Better-Than-Expected Earnings

Janus International Group, Inc. (NYSE:JBI) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.06, but opened at $9.40. Janus International Group shares last traded at $8.98, with a volume of 1,245,340 shares.

The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Janus International Group had a net margin of 10.62% and a return on equity of 21.10%.

Analyst Ratings Changes

Several analysts have recently weighed in on JBI shares. Jefferies Financial Group downgraded Janus International Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $12.00 to $7.50 in a research note on Monday, November 4th. UBS Group lowered their price objective on Janus International Group from $12.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, KeyCorp cut their target price on Janus International Group from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.25.

Hedge Funds Weigh In On Janus International Group

Several large investors have recently modified their holdings of the stock. Raymond James & Associates increased its holdings in Janus International Group by 28.7% in the third quarter. Raymond James & Associates now owns 379,673 shares of the company’s stock valued at $3,838,000 after buying an additional 84,718 shares during the last quarter. Bernzott Capital Advisors grew its position in shares of Janus International Group by 32.7% in the 3rd quarter. Bernzott Capital Advisors now owns 693,343 shares of the company’s stock worth $7,010,000 after acquiring an additional 171,038 shares in the last quarter. River Road Asset Management LLC bought a new position in Janus International Group during the third quarter worth $8,256,000. Principal Financial Group Inc. boosted its holdings in Janus International Group by 854.2% in the third quarter. Principal Financial Group Inc. now owns 182,876 shares of the company’s stock worth $1,849,000 after purchasing an additional 163,711 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in Janus International Group in the third quarter worth $249,000. Institutional investors own 88.78% of the company’s stock.

Janus International Group Trading Up 11.6 %

The stock has a market cap of $1.27 billion, a P/E ratio of 12.45 and a beta of 0.92. The firm’s 50 day simple moving average is $7.78 and its two-hundred day simple moving average is $8.68. The company has a quick ratio of 2.39, a current ratio of 2.80 and a debt-to-equity ratio of 1.11.

About Janus International Group

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.