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

Zacks Investment Research downgraded shares of Jeld-Wen (NYSE:JELD) from a buy rating to a hold rating in a research note released 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. “

JELD has been the topic of a number of other research reports. Robert W. Baird reiterated a buy rating and set a $46.00 price objective on shares of Jeld-Wen in a research note on Tuesday. Barclays set a $44.00 price objective on shares of Jeld-Wen and gave the company a buy rating in a research note on Monday, January 8th. ValuEngine lowered shares of Jeld-Wen from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, B. Riley lifted their price objective 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $38.40.

Shares of Jeld-Wen (JELD) traded up $0.38 during mid-day trading on Friday, reaching $41.01. 496,382 shares of the company’s stock were exchanged, compared to its average volume of 513,842. The firm has a market capitalization of $4,320.00 and a PE ratio of -18.56. The company has a current ratio of 1.93, a quick ratio of 1.28 and a debt-to-equity ratio of 1.40. Jeld-Wen has a 1 year low of $24.95 and a 1 year high of $42.27.

Jeld-Wen (NYSE:JELD) last announced its quarterly 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 firm 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 firm’s revenue for the quarter was up 6.3% on a year-over-year basis. research analysts anticipate that Jeld-Wen will post 1.62 earnings per share for the current fiscal year.

In other Jeld-Wen news, major shareholder Corp Onex sold 12,465,047 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $32.74, for a total transaction of $408,105,638.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kirk S. Hachigian sold 156,029 shares of the business’s stock in a transaction on 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 sale, the chairman now 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 90 days, insiders sold 47,672,683 shares of company stock valued at $1,560,803,641.

A number of hedge funds have recently added to or reduced their stakes in JELD. FMR LLC increased its stake in Jeld-Wen by 148.6% during the second quarter. FMR LLC now owns 3,332,306 shares of the company’s stock valued at $108,167,000 after purchasing an additional 1,991,945 shares during the last quarter. BlackRock Inc. increased its stake in Jeld-Wen by 69.1% during the second quarter. BlackRock Inc. now owns 2,994,158 shares of the company’s stock valued at $97,191,000 after purchasing an additional 1,223,534 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of Jeld-Wen by 284.5% during the second quarter. Citadel Advisors LLC now owns 1,588,520 shares of the company’s stock valued at $51,563,000 after acquiring an additional 1,175,414 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Jeld-Wen by 40.7% during the second quarter. Vanguard Group Inc. now owns 3,126,737 shares of the company’s stock valued at $101,493,000 after acquiring an additional 904,908 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in shares of Jeld-Wen by 24.1% during the third quarter. Pzena Investment Management LLC now owns 3,926,448 shares of the company’s stock valued at $139,467,000 after acquiring an additional 763,166 shares during the period. Hedge funds and other 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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