JELD-WEN (NYSE:JELD) Shares Gap Up After Insider Buying Activity

JELD-WEN Holding, Inc. (NYSE:JELD)’s stock price gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $6.07, but opened at $6.20. JELD-WEN shares last traded at $6.22, with a volume of 106,781 shares traded.

Specifically, major shareholder Turtle Creek Asset Management bought 70,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of $5.97 per share, for a total transaction of $417,900.00. Following the transaction, the insider now directly owns 12,485,051 shares of the company’s stock, valued at $74,535,754.47. This represents a 0.56 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group lowered their price target on shares of JELD-WEN from $9.00 to $7.50 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Barclays reduced their price target on shares of JELD-WEN from $9.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Truist Financial reduced their target price on JELD-WEN from $11.00 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada decreased their price objective on JELD-WEN from $7.00 to $5.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com cut JELD-WEN from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.06.

JELD-WEN Stock Up 2.2 %

The company’s 50-day simple moving average is $7.55 and its two-hundred day simple moving average is $10.51. The firm has a market capitalization of $529.78 million, a P/E ratio of -2.79 and a beta of 2.22. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33.

JELD-WEN (NYSE:JELD) last announced its 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 company had revenue of $895.70 million during the quarter, compared to the consensus estimate of $860.82 million. As a group, research analysts expect that JELD-WEN Holding, Inc. will post 0.88 earnings per share for the current year.

Institutional Trading of JELD-WEN

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in JELD-WEN during the third quarter valued at about $293,000. Dynamic Technology Lab Private Ltd boosted its stake in JELD-WEN by 96.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,848 shares of the company’s stock worth $709,000 after purchasing an additional 21,981 shares during the period. BNP Paribas Financial Markets grew its holdings in JELD-WEN by 10.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,249 shares of the company’s stock valued at $573,000 after buying an additional 3,383 shares in the last quarter. Beaconlight Capital LLC raised its position in shares of JELD-WEN by 227.9% during the third quarter. Beaconlight Capital LLC now owns 277,272 shares of the company’s stock valued at $4,384,000 after buying an additional 192,724 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of JELD-WEN by 1.1% in the third quarter. State Street Corp now owns 1,998,363 shares of the company’s stock worth $31,594,000 after buying an additional 21,264 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.