JELD-WEN (NYSE:JELD) Shares Gap Up After 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 traded.

Specifically, major shareholder Turtle Creek Asset Management bought 110,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average price of $7.65 per share, for a total transaction of $841,500.00. Following the acquisition, the insider now owns 12,259,784 shares of the company’s stock, valued at approximately $93,787,347.60. This trade represents a 0.91 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Turtle Creek Asset Management bought 125,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of $7.90 per share, with a total value of $987,500.00. Following the completion of the transaction, the insider now owns 12,042,190 shares in the company, valued at $95,133,301. This represents a 1.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. B. Riley cut their price objective on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group cut their price target on shares of JELD-WEN from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday. Jefferies Financial Group raised their target price on shares of JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reduced their target price on shares of JELD-WEN from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Wednesday, December 18th. Finally, Barclays lowered their target price on 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. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.75.

JELD-WEN Price Performance

The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33. The company’s 50 day moving average is $9.66 and its 200 day moving average is $12.97. The stock has a market cap of $753.96 million, a price-to-earnings ratio of -4.87 and a beta of 2.16.

JELD-WEN (NYSE:JELD) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The firm had revenue of $934.70 million during the quarter, compared to analyst estimates of $990.64 million. JELD-WEN had a positive return on equity of 12.32% and a negative net margin of 3.98%. The business’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Research analysts forecast that JELD-WEN Holding, Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JELD-WEN

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of JELD-WEN by 79.8% in the third quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock valued at $46,000 after buying an additional 1,284 shares during the last quarter. Sei Investments Co. lifted its position in JELD-WEN by 13.2% during the second quarter. Sei Investments Co. now owns 17,999 shares of the company’s stock worth $242,000 after buying an additional 2,100 shares during the period. Diversified Trust Co boosted its stake in JELD-WEN by 8.8% in the 4th quarter. Diversified Trust Co now owns 27,614 shares of the company’s stock worth $226,000 after buying an additional 2,242 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in JELD-WEN by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,436 shares of the company’s stock valued at $585,000 after buying an additional 3,066 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of JELD-WEN by 10.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,249 shares of the company’s stock worth $573,000 after acquiring an additional 3,383 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

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.