JELD-WEN (NYSE:JELD) Shares Gap Down on Disappointing Earnings

JELD-WEN Holding, Inc. (NYSE:JELDGet Rating) shares gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $17.78, but opened at $15.34. JELD-WEN shares last traded at $14.01, with a volume of 12,500 shares traded.

The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. JELD-WEN had a return on equity of 18.58% and a net margin of 2.94%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JELD. Wells Fargo & Company downgraded JELD-WEN from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a report on Tuesday, June 28th. TheStreet downgraded JELD-WEN from a “b-” rating to a “c+” rating in a report on Wednesday, April 20th. Truist Financial cut their price target on JELD-WEN from $25.00 to $21.00 in a report on Tuesday, May 3rd. JPMorgan Chase & Co. cut their price target on JELD-WEN from $18.50 to $15.00 in a report on Friday, July 15th. Finally, Robert W. Baird cut their price target on JELD-WEN from $25.00 to $22.00 in a report on Tuesday, May 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.18.

Insider Activity at JELD-WEN

In other news, major shareholder Turtle Creek Asset Management bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was purchased at an average cost of $13.15 per share, with a total value of $657,500.00. Following the transaction, the insider now directly owns 10,880,510 shares in the company, valued at $143,078,706.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.81% of the company’s stock.

Hedge Funds Weigh In On JELD-WEN

A number of large investors have recently modified their holdings of JELD. Point72 Hong Kong Ltd acquired a new stake in shares of JELD-WEN during the fourth quarter worth $26,000. Quantbot Technologies LP boosted its holdings in shares of JELD-WEN by 182.7% during the first quarter. Quantbot Technologies LP now owns 2,951 shares of the company’s stock worth $59,000 after purchasing an additional 1,907 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of JELD-WEN during the second quarter worth $61,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of JELD-WEN by 19.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,343 shares of the company’s stock worth $88,000 after purchasing an additional 539 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of JELD-WEN by 24.9% during the first quarter. Great West Life Assurance Co. Can now owns 4,383 shares of the company’s stock worth $95,000 after purchasing an additional 873 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

JELD-WEN Stock Down 13.7 %

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 10.58 and a beta of 2.21. The company has a quick ratio of 1.29, a current ratio of 2.02 and a debt-to-equity ratio of 2.20. The stock has a fifty day moving average of $16.28 and a two-hundred day moving average of $19.78.

About JELD-WEN

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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.

Further Reading

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