JELD-WEN (NYSE:JELD) Price Target Cut to $17.00 by Analysts at B. Riley

JELD-WEN (NYSE:JELDGet Rating) had its target price lowered by B. Riley from $22.00 to $17.00 in a report issued on Tuesday morning, The Fly reports. B. Riley also issued estimates for JELD-WEN’s Q3 2022 earnings at $0.48 EPS, Q4 2022 earnings at $0.55 EPS, FY2022 earnings at $1.53 EPS and FY2023 earnings at $1.66 EPS.

JELD has been the topic of several other research reports. Truist Financial lowered their target price on shares of JELD-WEN from $25.00 to $21.00 in a report on Tuesday, May 3rd. Robert W. Baird decreased their price target on shares of JELD-WEN from $25.00 to $22.00 in a research report on Tuesday, May 3rd. Wells Fargo & Company lowered shares of JELD-WEN from an overweight rating to an equal weight rating and set a $16.00 price objective for the company. in a research report on Tuesday, June 28th. Barclays downgraded shares of JELD-WEN from an overweight rating to an equal weight rating and cut their price target for the stock from $25.00 to $17.00 in a report on Thursday, July 14th. Finally, TheStreet cut shares of JELD-WEN from a b- rating to a c+ rating in a research note on Wednesday, April 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $17.91.

JELD-WEN Price Performance

Shares of JELD-WEN stock opened at $14.14 on Tuesday. The company’s fifty day simple moving average is $16.02 and its two-hundred day simple moving average is $19.57. JELD-WEN has a 12-month low of $12.12 and a 12-month high of $29.89. The company has a quick ratio of 1.29, a current ratio of 2.14 and a debt-to-equity ratio of 2.54. The firm has a market cap of $1.19 billion, a PE ratio of 10.32 and a beta of 2.21.

JELD-WEN (NYSE:JELDGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). JELD-WEN had a return on equity of 19.00% and a net margin of 2.59%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that JELD-WEN will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Turtle Creek Asset Management bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was acquired at an average price of $13.15 per share, with a total value of $657,500.00. Following the completion of the purchase, the insider now directly owns 10,880,510 shares of the company’s stock, valued at approximately $143,078,706.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased 201,578 shares of company stock valued at $2,767,487 over the last three months. Company insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in JELD-WEN by 387.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,609,759 shares of the company’s stock valued at $147,873,000 after buying an additional 4,457,808 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its position in shares of JELD-WEN by 38.9% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 11,692,075 shares of the company’s stock worth $237,115,000 after buying an additional 3,273,690 shares during the period. Pzena Investment Management LLC lifted its position in shares of JELD-WEN by 12.1% during the 2nd quarter. Pzena Investment Management LLC now owns 8,856,852 shares of the company’s stock worth $129,221,000 after buying an additional 956,559 shares during the period. Allspring Global Investments Holdings LLC bought a new position in JELD-WEN in the 4th quarter valued at $20,209,000. Finally, CI Investments Inc. raised its position in JELD-WEN by 3,742.3% in the 1st quarter. CI Investments Inc. now owns 576,350 shares of the company’s stock valued at $11,688,000 after purchasing an additional 561,350 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

About JELD-WEN

(Get Rating)

JELD-WEN Holding, Inc designs, 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, aluminum, and wood composite windows.

Further Reading

The Fly logo

Analyst Recommendations for JELD-WEN (NYSE:JELD)

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.