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

JELD-WEN Holding, Inc. (NYSE:JELD) gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $6.07, but opened at $6.20. JELD-WEN shares last traded at $6.22, with a volume of 106,781 shares.

Specifically, major shareholder Turtle Creek Asset Management purchased 70,000 shares of JELD-WEN stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $5.97 per share, for a total transaction of $417,900.00. Following the transaction, the insider now directly owns 12,485,051 shares in the company, valued at approximately $74,535,754.47. This represents a 0.56 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

Several research firms have weighed in on JELD. StockNews.com cut shares of JELD-WEN from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Royal Bank of Canada lowered their price target on shares of JELD-WEN from $7.00 to $5.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Loop Capital reduced their price objective on JELD-WEN from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Barclays decreased their price objective on JELD-WEN from $9.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Finally, Truist Financial dropped their target price on JELD-WEN from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.06.

JELD-WEN Price Performance

The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.33 and a current ratio of 2.03. The company has a 50-day moving average price of $7.49 and a 200-day moving average price of $10.46. The firm has a market capitalization of $521.16 million, a P/E ratio of -2.74 and a beta of 2.22.

JELD-WEN (NYSE:JELD) last issued its earnings results on Monday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.20). The company had revenue of $895.70 million for the quarter, compared to the consensus estimate of $860.82 million. JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. On average, sell-side analysts predict that JELD-WEN Holding, Inc. will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in JELD-WEN in the third quarter worth $293,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of JELD-WEN by 96.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,848 shares of the company’s stock valued at $709,000 after buying an additional 21,981 shares during the period. BNP Paribas Financial Markets increased its position in shares of JELD-WEN by 10.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,249 shares of the company’s stock valued at $573,000 after buying an additional 3,383 shares in the last quarter. Beaconlight Capital LLC raised its stake in JELD-WEN by 227.9% during the 3rd quarter. Beaconlight Capital LLC now owns 277,272 shares of the company’s stock worth $4,384,000 after buying an additional 192,724 shares during the period. Finally, State Street Corp lifted its holdings in JELD-WEN by 1.1% during the third quarter. State Street Corp now owns 1,998,363 shares of the company’s stock worth $31,594,000 after acquiring an additional 21,264 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.