Janus International Group (NYSE:JBI) Sets New 1-Year Low Following Weak Earnings

Janus International Group, Inc. (NYSE:JBI)’s stock price hit a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $6.69 and last traded at $7.22, with a volume of 251745 shares. The stock had previously closed at $10.31.

The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). Janus International Group had a return on equity of 26.03% and a net margin of 12.52%. The firm had revenue of $230.10 million for the quarter, compared to analyst estimates of $248.21 million. During the same period in the prior year, the business posted $0.27 EPS. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year.

Analyst Ratings Changes

JBI has been the subject of a number of recent analyst reports. KeyCorp cut their target price on Janus International Group from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Financial Group reduced their price target on shares of Janus International Group from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Wolfe Research cut Janus International Group from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Benchmark dropped their price objective on shares of Janus International Group from $21.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, UBS Group reduced their price target on Janus International Group from $12.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Hedge Funds Weigh In On Janus International Group

A number of institutional investors and hedge funds have recently modified their holdings of JBI. Silvercrest Asset Management Group LLC bought a new position in shares of Janus International Group in the 1st quarter worth $44,026,000. Vanguard Group Inc. grew its holdings in shares of Janus International Group by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 11,636,534 shares of the company’s stock valued at $151,857,000 after buying an additional 2,458,953 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Janus International Group by 2,063.3% during the second quarter. Victory Capital Management Inc. now owns 1,339,287 shares of the company’s stock valued at $16,915,000 after buying an additional 1,277,377 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in Janus International Group during the 1st quarter valued at about $18,954,000. Finally, Cooke & Bieler LP boosted its stake in Janus International Group by 33.8% during the 2nd quarter. Cooke & Bieler LP now owns 3,825,764 shares of the company’s stock valued at $48,319,000 after purchasing an additional 966,346 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors.

Janus International Group Stock Performance

The company has a market cap of $1.06 billion, a PE ratio of 10.11 and a beta of 0.88. The company has a quick ratio of 2.47, a current ratio of 2.82 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average of $10.10 and a 200-day moving average of $12.21.

About Janus International Group

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.