B. Riley Comments on JELD-WEN Holding, Inc.’s Q3 2022 Earnings (NYSE:JELD)

Posted by Shane Hupp on Aug 6th, 2022

JELD-WEN Holding, Inc. (NYSE:JELD – Get Rating) – Investment analysts at B. Riley lowered their Q3 2022 earnings per share estimates for shares of JELD-WEN in a research report issued to clients and investors on Tuesday, August 2nd. B. Riley analyst A. Rygiel now expects that the company will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.68. The consensus estimate for JELD-WEN’s current full-year earnings is $1.76 per share. B. Riley also issued estimates for JELD-WEN’s Q4 2022 earnings at $0.55 EPS, FY2022 earnings at $1.53 EPS and FY2023 earnings at $1.66 EPS.

JELD-WEN (NYSE:JELD – Get Rating) last issued its earnings results on Monday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. JELD-WEN had a return on equity of 19.00% and a net margin of 2.59%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share.

Several other analysts have also recently commented on the company. Truist Financial decreased their target price on JELD-WEN from $25.00 to $21.00 in a research report on Tuesday, May 3rd. The Goldman Sachs Group decreased their target price on JELD-WEN from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, June 23rd. UBS Group decreased their target price on JELD-WEN from $35.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company cut JELD-WEN from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research report on Tuesday, June 28th. Finally, Barclays cut JELD-WEN from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $25.00 to $17.00 in a research report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.91.

JELD-WEN Stock Performance

Shares of JELD-WEN stock opened at $14.14 on Thursday. The stock has a market cap of $1.19 billion, a PE ratio of 10.32 and a beta of 2.21. The business has a fifty day simple moving average of $16.02 and a 200-day simple moving average of $19.57. The company has a quick ratio of 1.29, a current ratio of 2.14 and a debt-to-equity ratio of 2.54. JELD-WEN has a 12 month low of $12.12 and a 12 month high of $29.89.

Insiders Place Their Bets

In related news, major shareholder Turtle Creek Asset Management purchased 121,815 shares of JELD-WEN stock in a transaction on Thursday, June 23rd. The stock was bought at an average price of $13.82 per share, with a total value of $1,683,483.30. Following the completion of the transaction, the insider now directly owns 11,268,303 shares of the company’s stock, valued at $155,727,947.46. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased 201,578 shares of company stock valued at $2,767,487 over the last quarter. Insiders own 1.81% of the company’s stock.

Institutional Trading of JELD-WEN

A number of institutional investors and hedge funds have recently made changes to their positions in JELD. Turtle Creek Asset Management Inc. increased its stake in shares of JELD-WEN by 38.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 11,692,075 shares of the company’s stock worth $237,115,000 after purchasing an additional 3,273,690 shares during the period. Pzena Investment Management LLC increased its stake in shares of JELD-WEN by 12.1% in the second quarter. Pzena Investment Management LLC now owns 8,856,852 shares of the company’s stock worth $129,221,000 after purchasing an additional 956,559 shares during the period. Vanguard Group Inc. increased its stake in shares of JELD-WEN by 0.4% in the first quarter. Vanguard Group Inc. now owns 8,440,902 shares of the company’s stock worth $171,182,000 after purchasing an additional 30,138 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in JELD-WEN by 5.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,083,001 shares of the company’s stock valued at $143,643,000 after acquiring an additional 343,177 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in JELD-WEN by 387.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,609,759 shares of the company’s stock valued at $147,873,000 after acquiring an additional 4,457,808 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

JELD-WEN Company Profile

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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.