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 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 purchased 110,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average price of $7.65 per share, for a total transaction of $841,500.00. Following the acquisition, the insider now directly owns 12,259,784 shares in the company, valued at approximately $93,787,347.60. The trade was a 0.91 % increase in their position. The acquisition 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 bought 125,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $7.90 per share, for a total transaction of $987,500.00. Following 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.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. 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 report on Wednesday, November 6th. The Goldman Sachs Group reduced their price target on JELD-WEN from $17.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. UBS Group reissued a “neutral” rating and set a $9.00 price target (down previously from $15.00) on shares of JELD-WEN in a research note on Wednesday, January 8th. B. Riley reduced their price target 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. Finally, Jefferies Financial Group increased their price target on JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.88.

JELD-WEN Stock Up 9.6 %

The firm has a 50 day moving average price of $9.78 and a two-hundred day moving average price of $13.00. 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 company has a market capitalization of $717.58 million, a price-to-earnings ratio of -4.63 and a beta of 2.16.

JELD-WEN (NYSE:JELD) last announced its earnings results on Monday, November 4th. The company reported $0.32 earnings per share 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 analyst estimates of $990.64 million. JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 12.32%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts expect that JELD-WEN Holding, Inc. will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On JELD-WEN

A number of hedge funds have recently bought and sold shares of JELD. Victory Capital Management Inc. raised its holdings in shares of JELD-WEN by 64.7% during the second quarter. Victory Capital Management Inc. now owns 172,126 shares of the company’s stock valued at $2,319,000 after buying an additional 67,604 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of JELD-WEN by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 149,434 shares of the company’s stock valued at $2,013,000 after buying an additional 14,574 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of JELD-WEN by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock valued at $43,461,000 after buying an additional 191,657 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in JELD-WEN in the second quarter worth approximately $817,000. Finally, First Eagle Investment Management LLC lifted its position in JELD-WEN by 1.3% in the second quarter. First Eagle Investment Management LLC now owns 341,184 shares of the company’s stock worth $4,596,000 after purchasing an additional 4,500 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.