JELD-WEN (NYSE:JELD) Rating Lowered to Underperform at Royal Bank of Canada

JELD-WEN (NYSE:JELDGet Rating) was downgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a note issued to investors on Wednesday, The Fly reports. They presently have a $12.00 price objective on the stock, down from their previous price objective of $20.00. Royal Bank of Canada’s target price suggests a potential downside of 15.91% from the company’s current price.

A number of other brokerages also recently commented on JELD. Truist Financial lowered their price objective on shares of JELD-WEN from $25.00 to $21.00 in a research report on Tuesday, May 3rd. JPMorgan Chase & Co. lowered their price objective on shares of JELD-WEN from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 20th. TheStreet downgraded shares of JELD-WEN from a “b-” rating to a “c+” rating in a research report on Wednesday, April 20th. Stifel Nicolaus lowered their price objective on shares of JELD-WEN to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Finally, Barclays lowered their price objective on shares of JELD-WEN from $28.00 to $25.00 in a research report on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JELD-WEN currently has an average rating of “Hold” and an average price target of $23.27.

JELD-WEN stock opened at $14.27 on Wednesday. The firm’s 50 day simple moving average is $18.09 and its 200-day simple moving average is $21.70. The company has a market cap of $1.24 billion, a P/E ratio of 9.84 and a beta of 2.17. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.02 and a quick ratio of 1.29. JELD-WEN has a fifty-two week low of $12.12 and a fifty-two week high of $29.89.

JELD-WEN (NYSE:JELDGet Rating) last released its earnings results on Monday, May 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.17). The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. JELD-WEN had a return on equity of 18.58% and a net margin of 2.94%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. On average, analysts expect that JELD-WEN will post 2.18 EPS for the current fiscal year.

In related news, major shareholder Turtle Creek Asset Management bought 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 6th. The shares were acquired at an average price of $19.22 per share, with a total value of $4,324,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Castillo sold 20,000 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $20.19, for a total transaction of $403,800.00. Following the completion of the sale, the executive vice president now directly owns 138,087 shares in the company, valued at approximately $2,787,976.53. The disclosure for this sale can be found here. Insiders bought 921,839 shares of company stock valued at $17,584,932 over the last 90 days. 1.81% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in JELD-WEN by 9.4% in the 1st quarter. Bank of America Corp DE now owns 1,053,382 shares of the company’s stock valued at $21,362,000 after buying an additional 90,519 shares during the period. Jane Street Group LLC bought a new stake in JELD-WEN in the 1st quarter valued at $544,000. Quantbot Technologies LP increased its holdings in JELD-WEN by 182.7% in the 1st quarter. Quantbot Technologies LP now owns 2,951 shares of the company’s stock valued at $59,000 after buying an additional 1,907 shares during the period. State Street Corp increased its holdings in JELD-WEN by 6.2% in the 1st quarter. State Street Corp now owns 1,814,001 shares of the company’s stock valued at $36,788,000 after buying an additional 106,466 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in JELD-WEN in the 1st quarter valued at $686,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

JELD-WEN Company Profile (Get Rating)

JELD-WEN Holding, Inc designs, manufactures, and sells doors and windows primarily in North America, Europe, and Australasia. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; and wood, vinyl, aluminum, and wood composite windows.

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