Zacks Investment Research Downgrades 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 note issued to investors on Friday.

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. “

A number of other equities analysts have also recently issued reports on JELD. Barclays set a $44.00 price objective on Jeld-Wen and gave the company a “buy” rating in a report on Monday. Robert W. Baird restated a “buy” rating and set a $46.00 price objective on shares of Jeld-Wen in a report on Tuesday. ValuEngine cut Jeld-Wen from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, B. Riley boosted their price objective on Jeld-Wen from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, November 15th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.40.

Jeld-Wen (JELD) opened at $40.63 on Friday. The firm has a market capitalization of $4,210.00 and a P/E ratio of -18.38. The company has a current ratio of 1.93, a quick ratio of 1.28 and a debt-to-equity ratio of 1.40. Jeld-Wen has a 12-month low of $24.95 and a 12-month high of $42.27.

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

In other Jeld-Wen news, major shareholder Corp Onex sold 20,832,636 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $32.74, for a total value of $682,060,502.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John R. Linker sold 7,235 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $32.74, for a total value of $236,873.90. Following the completion of the sale, the senior vice president now owns 14,453 shares of the company’s stock, valued at $473,191.22. The disclosure for this sale can be found here. Insiders sold a total of 47,672,683 shares of company stock valued at $1,560,803,641 over the last quarter.

Several hedge funds have recently modified their holdings of JELD. Pzena Investment Management LLC lifted its stake in shares of Jeld-Wen by 24.1% during the 3rd quarter. Pzena Investment Management LLC now owns 3,926,448 shares of the company’s stock worth $139,467,000 after purchasing an additional 763,166 shares during the last quarter. FMR LLC lifted its stake in shares of Jeld-Wen by 148.6% during the 2nd quarter. FMR LLC now owns 3,332,306 shares of the company’s stock worth $108,167,000 after purchasing an additional 1,991,945 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Jeld-Wen by 31.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,148,097 shares of the company’s stock worth $112,009,000 after purchasing an additional 762,211 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Jeld-Wen by 40.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,126,737 shares of the company’s stock worth $101,493,000 after purchasing an additional 904,908 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Jeld-Wen by 69.1% during the 2nd quarter. BlackRock Inc. now owns 2,994,158 shares of the company’s stock worth $97,191,000 after purchasing an additional 1,223,534 shares during the last quarter. Institutional investors and hedge funds own 41.01% of the company’s stock.

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Jeld-Wen Company Profile

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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