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

JELD-WEN Holding, Inc. (NYSE:JELD) shares gapped up before the market opened on Monday after an insider bought additional shares in the company. 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 acquired 110,000 shares of JELD-WEN stock in a transaction dated Friday, January 10th. The shares were purchased at an average price of $7.65 per share, for a total transaction of $841,500.00. Following the completion of the transaction, the insider now directly owns 12,259,784 shares in the company, valued at approximately $93,787,347.60. This represents a 0.91 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Turtle Creek Asset Management purchased 125,000 shares of JELD-WEN stock in a transaction on Tuesday, January 7th. The stock was bought at an average price of $7.90 per share, for a total transaction of $987,500.00. Following the completion of the acquisition, the insider now owns 12,042,190 shares in the company, valued at $95,133,301. The trade was a 1.05 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JELD. The Goldman Sachs Group decreased their price objective on JELD-WEN from $17.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada lowered their price objective on shares of JELD-WEN from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Wednesday, December 18th. Barclays reduced 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 report on Wednesday, November 6th. Jefferies Financial Group increased their price target on shares of JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, B. Riley reduced 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. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.88.

JELD-WEN Stock Performance

The company has a quick ratio of 1.33, a current ratio of 2.03 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average price of $9.78 and a 200 day moving average price of $13.00. The stock has a market cap of $719.27 million, a PE ratio of -4.64 and a beta of 2.16.

JELD-WEN (NYSE:JELD) last posted its earnings results on Monday, November 4th. The company reported $0.32 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 business had revenue of $934.70 million for the quarter, compared to analysts’ expectations of $990.64 million. During the same period last year, the business posted $0.53 EPS. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, research analysts forecast that JELD-WEN Holding, Inc. will post 0.73 earnings per share for the current year.

Institutional Trading of JELD-WEN

Hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC raised its position in shares of JELD-WEN by 2.8% in the 3rd quarter. Pzena Investment Management LLC now owns 9,582,008 shares of the company’s stock worth $151,492,000 after acquiring an additional 261,157 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in JELD-WEN by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock valued at $43,461,000 after purchasing 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 third quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after purchasing an additional 2,010,275 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of JELD-WEN by 57.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock valued at $33,200,000 after buying an additional 764,645 shares during the last quarter. Finally, State Street Corp lifted its position in shares of JELD-WEN by 1.1% during the third quarter. State Street Corp now owns 1,998,363 shares of the company’s stock valued at $31,594,000 after buying an additional 21,264 shares during the last quarter. Hedge funds and other 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.