The Goldman Sachs Group Lowers JELD-WEN (NYSE:JELD) Price Target to $9.00

JELD-WEN (NYSE:JELD) had its target price reduced by equities research analysts at The Goldman Sachs Group from $10.00 to $9.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 3.64% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Barclays dropped their price target 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. Royal Bank of Canada cut their price target on JELD-WEN from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Wednesday, December 18th. B. Riley decreased their price objective on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. UBS Group restated a “neutral” rating and issued a $9.00 target price (down previously from $15.00) on shares of JELD-WEN in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group upped their price target on JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, JELD-WEN currently has a consensus rating of “Hold” and a consensus target price of $12.75.

JELD-WEN Trading Up 4.2 %

NYSE:JELD opened at $9.34 on Tuesday. The firm’s 50 day moving average is $9.61 and its 200 day moving average is $12.91. JELD-WEN has a 12 month low of $7.43 and a 12 month high of $21.75. The stock has a market capitalization of $790.35 million, a PE ratio of -5.10 and a beta of 2.16. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64.

JELD-WEN (NYSE:JELD) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $934.70 million for the quarter, compared to the consensus estimate of $990.64 million. JELD-WEN had a positive return on equity of 12.32% and a negative net margin of 3.98%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. Sell-side analysts expect that JELD-WEN will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Turtle Creek Asset Management purchased 75,000 shares of the stock in a transaction on Monday, January 13th. The shares were acquired at an average price of $8.46 per share, for a total transaction of $634,500.00. Following the completion of the transaction, the insider now directly owns 12,320,226 shares of the company’s stock, valued at approximately $104,229,111.96. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders purchased a total of 960,000 shares of company stock valued at $9,086,500 in the last quarter. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On JELD-WEN

A number of hedge funds and other institutional investors have recently modified their holdings of JELD. Blue Trust Inc. lifted its position in JELD-WEN by 79.8% in the 3rd quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock worth $46,000 after buying an additional 1,284 shares during the last quarter. MQS Management LLC purchased a new position in shares of JELD-WEN during the third quarter worth approximately $160,000. Xponance Inc. bought a new stake in shares of JELD-WEN in the 2nd quarter worth approximately $198,000. Diversified Trust Co boosted its stake in shares of JELD-WEN by 8.8% in the 4th quarter. Diversified Trust Co now owns 27,614 shares of the company’s stock valued at $226,000 after purchasing an additional 2,242 shares in the last quarter. Finally, Sei Investments Co. raised its position in JELD-WEN by 13.2% in the 2nd quarter. Sei Investments Co. now owns 17,999 shares of the company’s stock worth $242,000 after purchasing an additional 2,100 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.