JELD-WEN (NYSE:JELD) Price Target Cut to $29.00

JELD-WEN (NYSE:JELD) had its price target cut by B. Riley from $32.00 to $29.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on JELD. TheStreet upgraded JELD-WEN from a c+ rating to a b- rating in a research report on Tuesday, August 17th. Wells Fargo & Company began coverage on shares of JELD-WEN in a research note on Thursday, July 15th. They set an overweight rating and a $30.00 price objective on the stock. Zacks Investment Research lowered shares of JELD-WEN from a hold rating to a sell rating in a report on Tuesday, October 5th. Finally, Royal Bank of Canada raised their price objective on JELD-WEN from $29.00 to $30.00 and gave the stock a sector perform rating in a research note on Tuesday, August 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, JELD-WEN has a consensus rating of Hold and an average price target of $30.22.

Shares of JELD stock opened at $25.46 on Wednesday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 16.75 and a beta of 2.47. JELD-WEN has a 12 month low of $20.30 and a 12 month high of $31.47. The company has a quick ratio of 1.42, a current ratio of 2.04 and a debt-to-equity ratio of 1.63. The stock has a 50-day moving average price of $27.02 and a 200 day moving average price of $27.33.

JELD-WEN (NYSE:JELD) last issued its earnings results on Sunday, August 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.16 billion. JELD-WEN had a net margin of 3.37% and a return on equity of 19.14%. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. Sell-side analysts predict that JELD-WEN will post 1.92 earnings per share for the current fiscal year.

In other JELD-WEN news, EVP Peter Farmakis sold 84,380 shares of the firm’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $28.03, for a total value of $2,365,171.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Corp Onex sold 14,883,094 shares of the stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $28.50, for a total value of $424,168,179.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,005,955 shares of company stock valued at $427,605,046. Insiders own 1.42% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of JELD-WEN during the 1st quarter worth about $29,000. Sittner & Nelson LLC bought a new position in JELD-WEN during the second quarter worth about $53,000. Marshall Wace LLP acquired a new position in JELD-WEN during the first quarter worth approximately $143,000. Ameritas Investment Partners Inc. lifted its position in shares of JELD-WEN by 12.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,388 shares of the company’s stock valued at $168,000 after buying an additional 700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of JELD-WEN by 21.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,295 shares of the company’s stock worth $192,000 after acquiring an additional 1,267 shares during the period. 79.35% of the stock is owned by institutional investors.

JELD-WEN Company Profile

JELD-WEN Holding, Inc engages in the manufacture and sale of doors, windows, and related products. It designs, produces, and distributes interior and exterior doors, wood, vinyl, aluminum windows, and related products for construction, repair, and remodeling of residential homes and non-residential buildings.

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