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

JELD-WEN (NYSE:JELDGet Rating) was downgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research report issued on Wednesday, The Fly reports. They currently have a $12.00 price objective on the stock, down from their prior price objective of $20.00. Royal Bank of Canada’s target price indicates a potential downside of 15.91% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus reduced their price target on JELD-WEN to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Truist Financial dropped their price objective on shares of JELD-WEN from $25.00 to $21.00 in a report on Tuesday, May 3rd. Robert W. Baird dropped their price objective on shares of JELD-WEN from $25.00 to $22.00 in a report on Tuesday, May 3rd. JPMorgan Chase & Co. dropped their price objective on shares of JELD-WEN from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Wednesday, April 20th. Finally, Barclays lowered their price target on shares of JELD-WEN from $28.00 to $25.00 in a report on Tuesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JELD-WEN has a consensus rating of “Hold” and a consensus price target of $23.27.

Shares of NYSE:JELD opened at $14.27 on Wednesday. JELD-WEN has a 1 year low of $12.12 and a 1 year high of $29.89. The business has a 50 day simple moving average of $18.09 and a two-hundred day simple moving average of $21.70. The firm has a market capitalization of $1.24 billion, a PE 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 (NYSE:JELDGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 2.94% and a return on equity of 18.58%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. Equities research analysts expect that JELD-WEN will post 2.18 EPS for the current fiscal year.

In related news, EVP Daniel J. Castillo sold 20,000 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $20.19, for a total transaction of $403,800.00. Following the sale, the executive vice president now owns 138,087 shares of the company’s stock, valued at $2,787,976.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Turtle Creek Asset Management acquired 140,290 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were bought at an average cost of $20.88 per share, for a total transaction of $2,929,255.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 921,839 shares of company stock worth $17,584,932. 1.81% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in JELD-WEN by 9.4% during the first quarter. Bank of America Corp DE now owns 1,053,382 shares of the company’s stock worth $21,362,000 after buying an additional 90,519 shares in the last quarter. Jane Street Group LLC acquired a new position in JELD-WEN during the first quarter worth about $544,000. Quantbot Technologies LP raised its position in 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 acquiring an additional 1,907 shares during the last quarter. State Street Corp raised its position in JELD-WEN by 6.2% during the first quarter. State Street Corp now owns 1,814,001 shares of the company’s stock worth $36,788,000 after acquiring an additional 106,466 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in JELD-WEN during the first quarter worth about $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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