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

JELD-WEN Holding, Inc. (NYSE:JELD) shares gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $10.28, but opened at $10.85. JELD-WEN shares last traded at $10.90, with a volume of 106,025 shares trading hands.

Specifically, major shareholder Turtle Creek Asset Management purchased 200,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were acquired at an average price of $10.48 per share, with a total value of $2,096,000.00. Following the acquisition, the insider now directly owns 11,941,452 shares in the company, valued at approximately $125,146,416.96. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Turtle Creek Asset Management bought 450,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average price of $10.06 per share, with a total value of $4,527,000.00. Following the completion of the acquisition, the insider now owns 11,751,912 shares of the company’s stock, valued at $118,224,234.72. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of research analysts have commented on JELD shares. Barclays lowered their price target on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday. Royal Bank of Canada dropped their price target on JELD-WEN from $13.00 to $9.00 and set an “underperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price target on shares of JELD-WEN from $17.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday. UBS Group decreased their price objective on shares of JELD-WEN from $19.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.90.

JELD-WEN Stock Performance

The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.33 and a current ratio of 2.03. The business’s 50-day moving average is $14.57 and its 200-day moving average is $14.91. The company has a market capitalization of $927.44 million, a PE ratio of -5.99 and a beta of 2.25.

JELD-WEN (NYSE:JELD) last released its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business had revenue of $934.70 million for the quarter, compared to analysts’ expectations of $990.64 million. JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 11.97%. JELD-WEN’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. On average, research analysts anticipate that JELD-WEN Holding, Inc. will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On JELD-WEN

Hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC increased its stake in JELD-WEN by 2.8% during the 3rd quarter. Pzena Investment Management LLC now owns 9,582,008 shares of the company’s stock valued at $151,492,000 after purchasing an additional 261,157 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in JELD-WEN by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock worth $43,461,000 after acquiring an additional 191,657 shares during the last quarter. Victory Capital Management Inc. raised its holdings in JELD-WEN by 1,167.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after acquiring an additional 2,010,275 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in JELD-WEN by 57.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock valued at $33,200,000 after acquiring an additional 764,645 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in JELD-WEN by 19.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,366,034 shares of the company’s stock valued at $18,400,000 after purchasing an additional 220,177 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

JELD-WEN Company Profile

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.