B. Riley Comments on Jeld-Wen Holding Inc’s FY2018 Earnings (JELD)

Jeld-Wen Holding Inc (NYSE:JELD) – Equities research analysts at B. Riley increased their FY2018 earnings per share (EPS) estimates for Jeld-Wen in a research note issued on Wednesday. B. Riley analyst A. Rygiel now forecasts that the company will post earnings of $2.18 per share for the year, up from their previous estimate of $2.10. B. Riley has a “Neutral” rating and a $38.00 price objective on the stock.

Jeld-Wen (NYSE:JELD) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The business had revenue of $991.40 million for the quarter, compared to analysts’ expectations of $974.98 million. Jeld-Wen had a net margin of 9.12% and a return on equity of 58.83%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year.

JELD has been the topic of several other research reports. SunTrust Banks reaffirmed a “hold” rating on shares of Jeld-Wen in a report on Tuesday, September 12th. Zacks Investment Research raised shares of Jeld-Wen from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, October 23rd. Bank of America raised shares of Jeld-Wen from a “neutral” rating to a “buy” rating and raised their target price for the company from $36.00 to $40.00 in a report on Thursday, September 7th. Goldman Sachs Group raised shares of Jeld-Wen from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $37.00 in a report on Wednesday, September 6th. Finally, Barclays raised their price objective on shares of Jeld-Wen from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, November 8th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.27.

Shares of Jeld-Wen (NYSE:JELD) traded up $0.61 during trading hours on Thursday, reaching $39.92. 478,400 shares of the company traded hands, compared to its average volume of 501,100. Jeld-Wen has a 52-week low of $24.95 and a 52-week high of $40.25. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.28 and a current ratio of 1.93.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Jeld-Wen in the 2nd quarter valued at about $105,000. Quantbot Technologies LP purchased a new stake in shares of Jeld-Wen during the 3rd quarter worth about $110,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Jeld-Wen during the 2nd quarter worth about $135,000. Breton Hill Capital Ltd. purchased a new stake in shares of Jeld-Wen during the 3rd quarter worth about $208,000. Finally, Sii Investments Inc. WI purchased a new stake in shares of Jeld-Wen during the 3rd quarter worth about $217,000. 41.02% of the stock is owned by hedge funds and other institutional investors.

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

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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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