JELD-WEN (NYSE:JELD) Shares Gap Up on Insider Buying Activity

JELD-WEN Holding, Inc. (NYSE:JELD) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $10.28, but opened at $10.85. JELD-WEN shares last traded at $10.90, with a volume of 106,025 shares traded.

Specifically, major shareholder Turtle Creek Asset Management bought 200,000 shares of JELD-WEN stock in a transaction dated Thursday, November 7th. The stock was bought at an average cost of $10.48 per share, for a total transaction of $2,096,000.00. Following the purchase, the insider now owns 11,941,452 shares of the company’s stock, valued at $125,146,416.96. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Turtle Creek Asset Management purchased 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $10.06 per share, for a total transaction of $4,527,000.00. Following the purchase, the insider now owns 11,751,912 shares in the company, valued at $118,224,234.72. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays decreased their price objective on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday. B. Riley lowered their price target on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group reduced their price objective on JELD-WEN from $19.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group increased their target price on JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada reduced their price target on JELD-WEN from $13.00 to $9.00 and set an “underperform” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, JELD-WEN presently has an average rating of “Hold” and a consensus price target of $14.90.

JELD-WEN Stock Up 6.6 %

The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average price of $14.57 and a two-hundred day moving average price of $14.94.

JELD-WEN (NYSE:JELD) last posted its quarterly earnings data 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). JELD-WEN had a positive return on equity of 11.97% and a negative net margin of 3.98%. The firm had revenue of $934.70 million for the quarter, compared to the consensus estimate of $990.64 million. During the same period in the prior year, the company earned $0.53 EPS. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, research analysts expect that JELD-WEN Holding, Inc. will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On JELD-WEN

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

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.