The Goldman Sachs Group Cuts JELD-WEN (NYSE:JELD) Price Target to $10.00

JELD-WEN (NYSE:JELD) had its target price lowered by The Goldman Sachs Group from $17.00 to $10.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on JELD. Jefferies Financial Group increased 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. Barclays lowered their price objective on JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Loop Capital cut their target price on JELD-WEN from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $13.00 price target on shares of JELD-WEN in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.90.

JELD-WEN Price Performance

JELD-WEN stock opened at $10.96 on Wednesday. The company has a market capitalization of $927.44 million, a price-to-earnings ratio of -5.99 and a beta of 2.25. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.53. JELD-WEN has a 12 month low of $8.90 and a 12 month high of $21.75. The stock’s 50 day moving average is $14.57 and its 200-day moving average is $14.91.

JELD-WEN (NYSE:JELD) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS 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 negative net margin of 3.98% and a positive return on equity of 11.97%. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. Equities research analysts expect that JELD-WEN will post 1.29 EPS for the current year.

Insider Activity

In related news, major shareholder Turtle Creek Asset Management acquired 200,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was acquired at an average cost of $10.48 per share, for a total transaction of $2,096,000.00. Following the transaction, the insider now directly owns 11,941,452 shares in the company, valued at $125,146,416.96. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JELD-WEN

Several hedge funds have recently modified their holdings of JELD. Pzena Investment Management LLC raised its stake in shares of JELD-WEN by 2.8% during the third quarter. Pzena Investment Management LLC now owns 9,582,008 shares of the company’s stock valued at $151,492,000 after acquiring an additional 261,157 shares during the last quarter. Dimensional Fund Advisors LP raised its position in JELD-WEN by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock worth $43,461,000 after purchasing an additional 191,657 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in JELD-WEN by 1,167.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after buying an additional 2,010,275 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of JELD-WEN by 57.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock valued at $33,200,000 after buying an additional 764,645 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of JELD-WEN by 19.2% in the second quarter. Bank of New York Mellon Corp now owns 1,366,034 shares of the company’s stock valued at $18,400,000 after buying an additional 220,177 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.