JELD-WEN (NYSE:JELD) Shares Gap Up on Insider Buying Activity

JELD-WEN Holding, Inc. (NYSE:JELD)’s share price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $7.74, but opened at $8.17. JELD-WEN shares last traded at $8.57, with a volume of 155,347 shares.

Specifically, major shareholder Turtle Creek Asset Management purchased 110,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were bought at an average price of $7.65 per share, with a total value of $841,500.00. Following the completion of the acquisition, the insider now owns 12,259,784 shares of the company’s stock, valued at approximately $93,787,347.60. This represents a 0.91 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Turtle Creek Asset Management purchased 125,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $7.90 per share, for a total transaction of $987,500.00. Following the acquisition, the insider now directly owns 12,042,190 shares of the company’s stock, valued at $95,133,301. This represents a 1.05 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

Several research analysts have issued reports on JELD shares. UBS Group reaffirmed a “neutral” rating and issued a $9.00 price target (down previously from $15.00) on shares of JELD-WEN in a report on Wednesday, January 8th. B. Riley cut their target price on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada cut their target price on shares of JELD-WEN from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Wednesday, December 18th. Barclays cut their target price on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group dropped their price target 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. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat.com, JELD-WEN currently has a consensus rating of “Hold” and a consensus price target of $12.88.

JELD-WEN Price Performance

The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33. The stock’s fifty day simple moving average is $9.78 and its 200-day simple moving average is $13.00. The company has a market capitalization of $717.58 million, a P/E ratio of -4.63 and a beta of 2.16.

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

Institutional Investors Weigh In On JELD-WEN

Several hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in JELD-WEN by 79.8% in the third quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock worth $46,000 after purchasing an additional 1,284 shares in the last quarter. MQS Management LLC acquired a new position in JELD-WEN in the third quarter worth about $160,000. Xponance Inc. acquired a new position in JELD-WEN in the second quarter worth about $198,000. K2 Principal Fund L.P. acquired a new position in JELD-WEN in the third quarter worth about $278,000. Finally, Sei Investments Co. raised its position in JELD-WEN by 13.2% in the second quarter. Sei Investments Co. now owns 17,999 shares of the company’s stock worth $242,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

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.