Zacks Investment Research Lowers Jeld-Wen (JELD) to Hold

Jeld-Wen (NYSE:JELD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “JELD-WEN Holding, Inc. designs, produces and distributes interior and exterior doors, wood, vinyl and aluminum windows and related products for new construction and repair and remodeling of residential homes and non-residential buildings. The company’s brand portfolio includes JELD-WEN (R), Swedoor (R), DANA (R), Corinthian (R), Stegbar (R) and Trend (R). It operates primarily in North America, Europe and Australia. JELD-WEN Holding, Inc. is headquartered in Charlotte, North Carolina. “

Several other brokerages have also recently issued reports on JELD. Robert W. Baird reaffirmed a “buy” rating and issued a $46.00 target price on shares of Jeld-Wen in a report on Tuesday, January 9th. Barclays set a $44.00 target price on shares of Jeld-Wen and gave the stock a “buy” rating in a report on Monday, January 8th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $47.00 target price (up from $41.00) on shares of Jeld-Wen in a report on Monday, January 22nd. They noted that the move was a valuation call. ValuEngine cut shares of Jeld-Wen from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, B. Riley lifted their target price on shares of Jeld-Wen from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.87.

Shares of Jeld-Wen (NYSE JELD) traded up $0.34 during trading on Thursday, reaching $40.96. 254,988 shares of the company’s stock traded hands, compared to its average volume of 442,822. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.93 and a quick ratio of 1.28. Jeld-Wen has a twelve month low of $24.95 and a twelve month high of $42.27.

Jeld-Wen (NYSE:JELD) last issued its earnings results on Tuesday, November 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $991.40 million during the quarter, compared to analysts’ expectations of $974.98 million. Jeld-Wen had a net margin of 9.12% and a return on equity of 58.83%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. research analysts predict that Jeld-Wen will post 1.62 EPS for the current year.

In other news, major shareholder Corp Onex sold 12,465,047 shares of Jeld-Wen stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $32.74, for a total value of $408,105,638.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Kirk S. Hachigian sold 156,029 shares of Jeld-Wen stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $32.74, for a total transaction of $5,108,389.46. Following the completion of the sale, the chairman now owns 413,930 shares of the company’s stock, valued at $13,552,068.20. The disclosure for this sale can be found here. Insiders sold 47,672,683 shares of company stock valued at $1,560,803,641 over the last quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its position in Jeld-Wen by 134.3% during the fourth quarter. Jennison Associates LLC now owns 1,265,084 shares of the company’s stock valued at $49,806,000 after buying an additional 725,186 shares during the period. Peregrine Capital Management LLC grew its position in Jeld-Wen by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 449,804 shares of the company’s stock valued at $17,709,000 after buying an additional 2,826 shares during the period. First Quadrant L P CA bought a new stake in Jeld-Wen during the fourth quarter valued at approximately $219,000. Strs Ohio bought a new stake in Jeld-Wen during the fourth quarter valued at approximately $149,000. Finally, Schwab Charles Investment Management Inc. grew its position in Jeld-Wen by 60.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 315,633 shares of the company’s stock valued at $12,427,000 after buying an additional 119,272 shares during the period. Institutional investors own 40.75% of the company’s stock.

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About Jeld-Wen

JELD-WEN Holding, Inc is a door and window manufacturer. The Company designs, produces and distributes a range of interior and exterior doors, wood, vinyl and aluminum windows, and related products for use in the new construction and repair and remodeling, of residential homes, and to an extent, non-residential buildings.

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