Zacks Investment Research Lowers Jeld-Wen (JELD) to Hold

Zacks Investment Research lowered shares of Jeld-Wen (NYSE:JELD) from a buy rating to a hold rating in a research note issued to investors on Friday.

According to Zacks, “JELD-WEN Holding, Inc. designs, produces and distributes interior and exterior doors, wood, vinyl and aluminum windows and related products for new construction and repair and remodeling of residential homes and non-residential buildings. The company’s brand portfolio includes JELD-WEN (R), Swedoor (R), DANA (R), Corinthian (R), Stegbar (R) and Trend (R). It operates primarily in North America, Europe and Australia. JELD-WEN Holding, Inc. is headquartered in Charlotte, North Carolina. “

Other research analysts also recently issued research reports about the stock. Robert W. Baird reaffirmed a buy rating and issued a $46.00 target price on shares of Jeld-Wen in a research report on Tuesday, January 9th. Barclays set a $44.00 target price on shares of Jeld-Wen and gave the company a buy rating in a research report on Monday, January 8th. ValuEngine cut shares of Jeld-Wen from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, B. Riley increased their price target on shares of Jeld-Wen from $33.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, November 15th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Jeld-Wen has a consensus rating of Buy and an average price target of $38.40.

Jeld-Wen (JELD) opened at $41.01 on Friday. Jeld-Wen has a 12-month low of $24.95 and a 12-month high of $42.27. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.93 and a quick ratio of 1.28.

Jeld-Wen (NYSE:JELD) last released its earnings results on Tuesday, November 7th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $991.40 million during the quarter, compared to the consensus estimate of $974.98 million. Jeld-Wen had a net margin of 9.12% and a return on equity of 58.83%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. research analysts expect that Jeld-Wen will post 1.62 EPS for the current fiscal year.

In other news, Chairman Kirk S. Hachigian sold 156,029 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $32.74, for a total transaction of $5,108,389.46. Following the completion of the sale, the chairman now owns 413,930 shares in the company, valued at approximately $13,552,068.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Corp Onex sold 12,465,047 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $32.74, for a total transaction of $408,105,638.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,672,683 shares of company stock valued at $1,560,803,641.

Several hedge funds and other institutional investors have recently bought and sold shares of JELD. Public Employees Retirement System of Ohio increased its position in Jeld-Wen by 46.2% during the third quarter. Public Employees Retirement System of Ohio now owns 47,527 shares of the company’s stock worth $1,688,000 after acquiring an additional 15,010 shares during the period. Dean Investment Associates LLC bought a new position in Jeld-Wen during the third quarter worth about $3,269,000. California Public Employees Retirement System increased its position in Jeld-Wen by 15.8% during the third quarter. California Public Employees Retirement System now owns 11,000 shares of the company’s stock worth $391,000 after acquiring an additional 1,500 shares during the period. Cubist Systematic Strategies LLC increased its position in Jeld-Wen by 2,794.0% during the third quarter. Cubist Systematic Strategies LLC now owns 29,924 shares of the company’s stock worth $1,063,000 after acquiring an additional 28,890 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Jeld-Wen by 74.2% during the third quarter. Point72 Asset Management L.P. now owns 87,600 shares of the company’s stock worth $3,112,000 after acquiring an additional 37,300 shares during the period. Institutional investors own 41.01% of the company’s stock.

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About Jeld-Wen

JELD-WEN Holding, Inc is a door and window manufacturer. The Company designs, produces and distributes a range of interior and exterior doors, wood, vinyl and aluminum windows, and related products for use in the new construction and repair and remodeling, of residential homes, and to an extent, non-residential buildings.

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