Jeld-Wen (NYSE:JELD) Shares Down 11.7% After Earnings Miss

Jeld-Wen Holding Inc (NYSE:JELD)’s stock price fell 11.7% during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $21.90 and last traded at $22.30, 2,994,900 shares traded hands during mid-day trading. An increase of 269% from the average session volume of 811,373 shares. The stock had previously closed at $25.26.

The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). Jeld-Wen had a net margin of 2.22% and a return on equity of 17.68%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis.

Several brokerages recently commented on JELD. Benchmark began coverage on Jeld-Wen in a research report on Wednesday, February 5th. They set a “buy” rating and a $32.00 price target for the company. ValuEngine raised Jeld-Wen from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Co raised Jeld-Wen from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $30.00 in a research report on Tuesday, January 21st. Bank of America raised Jeld-Wen from an “underperform” rating to a “neutral” rating and increased their price target for the company from $20.00 to $29.00 in a research report on Thursday, January 23rd. Finally, Zacks Investment Research raised Jeld-Wen from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Jeld-Wen presently has an average rating of “Buy” and a consensus price target of $25.08.

A number of large investors have recently added to or reduced their stakes in JELD. Panagora Asset Management Inc. increased its stake in shares of Jeld-Wen by 0.9% during the fourth quarter. Panagora Asset Management Inc. now owns 59,591 shares of the company’s stock worth $1,395,000 after purchasing an additional 555 shares during the period. Amalgamated Bank increased its stake in shares of Jeld-Wen by 7.7% during the fourth quarter. Amalgamated Bank now owns 12,722 shares of the company’s stock worth $298,000 after purchasing an additional 912 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Jeld-Wen by 1.2% during the third quarter. Public Employees Retirement System of Ohio now owns 76,721 shares of the company’s stock worth $1,480,000 after purchasing an additional 947 shares during the period. Janus Henderson Group PLC increased its stake in shares of Jeld-Wen by 9.9% during the fourth quarter. Janus Henderson Group PLC now owns 11,302 shares of the company’s stock worth $265,000 after purchasing an additional 1,016 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Jeld-Wen by 73.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,440 shares of the company’s stock worth $57,000 after purchasing an additional 1,032 shares during the period. Hedge funds and other institutional investors own 58.99% of the company’s stock.

The company has a market cap of $2.54 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 1.14 and a beta of 2.71. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 2.03. The stock has a 50 day moving average price of $24.68 and a two-hundred day moving average price of $20.93.

About Jeld-Wen (NYSE:JELD)

JELD-WEN Holding, Inc manufactures and sells doors and windows primarily in North America, Europe, and Australasia. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; and wood, vinyl, and aluminum windows.

Featured Story: What member countries make up the G-20?

Receive News & Ratings for Jeld-Wen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jeld-Wen and related companies with MarketBeat.com's FREE daily email newsletter.