Janus International Group (NYSE:JBI) Board of Directors Announces Stock Repurchase Program

Janus International Group (NYSE:JBI) declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 15th, RTT News reports. The company plans to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Janus International Group Stock Up 3.0%

JBI stock opened at $8.87 on Friday. The stock has a fifty day moving average of $7.29 and a 200-day moving average of $7.56. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.31 and a beta of 1.20. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.39 and a current ratio of 2.80. Janus International Group has a fifty-two week low of $5.99 and a fifty-two week high of $15.24.

Janus International Group (NYSE:JBI) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The firm had revenue of $210.50 million for the quarter, compared to analysts’ expectations of $200.73 million. Janus International Group had a return on equity of 21.10% and a net margin of 10.62%. The company’s revenue was down 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. As a group, equities research analysts predict that Janus International Group will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Separately, KeyCorp increased their price target on Janus International Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.00.

About Janus International Group

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.