Royal Bank of Canada Lowers JELD-WEN (NYSE:JELD) Price Target to $8.00

JELD-WEN (NYSE:JELD) had its price target lowered by analysts at Royal Bank of Canada from $9.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 5.66% from the stock’s current price.

Other research analysts also recently issued research reports about the company. B. Riley dropped their price target on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group lifted their target price on shares of JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays decreased their price target on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on shares of JELD-WEN from $17.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, UBS Group decreased their target price on shares of JELD-WEN from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.63.

JELD-WEN Stock Down 3.3 %

JELD stock opened at $8.48 on Wednesday. The company’s 50 day moving average is $11.93 and its two-hundred day moving average is $13.66. JELD-WEN has a twelve month low of $8.30 and a twelve month high of $21.75. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64. The stock has a market cap of $717.58 million, a P/E ratio of -4.63 and a beta of 2.12.

JELD-WEN (NYSE:JELD) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The company had revenue of $934.70 million during the quarter, compared to analysts’ expectations of $990.64 million. JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 12.32%. JELD-WEN’s revenue was down 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Research analysts expect that JELD-WEN will post 0.73 earnings per share for the current fiscal year.

Insider Activity at JELD-WEN

In other JELD-WEN news, major shareholder Turtle Creek Asset Management acquired 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were purchased at an average price of $10.48 per share, with a total value of $2,096,000.00. Following the completion of the acquisition, the insider now directly owns 11,941,452 shares of the company’s stock, valued at approximately $125,146,416.96. The trade was a 1.70 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.03% of the stock is owned by insiders.

Institutional Investors Weigh In On JELD-WEN

Several institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in JELD-WEN by 1,167.9% during the third quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after buying an additional 2,010,275 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of JELD-WEN by 26.3% during the 2nd quarter. Pzena Investment Management LLC now owns 9,320,851 shares of the company’s stock valued at $125,552,000 after acquiring an additional 1,939,052 shares during the period. Engine Capital Management LP boosted its stake in shares of JELD-WEN by 223.6% during the 2nd quarter. Engine Capital Management LP now owns 1,162,303 shares of the company’s stock worth $15,656,000 after acquiring an additional 803,095 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of JELD-WEN by 57.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock worth $33,200,000 after acquiring an additional 764,645 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in shares of JELD-WEN in the 2nd quarter worth approximately $5,342,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About JELD-WEN

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