The Goldman Sachs Group Cuts JELD-WEN (NYSE:JELD) Price Target to $8.00

JELD-WEN (NYSE:JELD) had its price target decreased by The Goldman Sachs Group from $9.00 to $8.00 in a report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

JELD has been the subject of several other reports. B. Riley cut their price target on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada cut their price target on shares of JELD-WEN from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Wednesday, December 18th. Barclays cut their price target on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, UBS Group reissued a “neutral” rating and issued a $9.00 price target (down from $15.00) on shares of JELD-WEN in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.56.

JELD-WEN Stock Down 3.3 %

JELD opened at $5.97 on Wednesday. The company has a 50 day moving average of $8.56 and a 200 day moving average of $11.75. The company has a market cap of $504.76 million, a PE ratio of -2.67 and a beta of 2.17. JELD-WEN has a 12 month low of $5.79 and a 12 month high of $21.75. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64.

JELD-WEN (NYSE:JELD) last released its quarterly earnings data on Monday, February 17th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.20). The business had revenue of $895.70 million during 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 expect that JELD-WEN will post 0.88 EPS for the current year.

Insider Transactions at JELD-WEN

In related news, major shareholder Turtle Creek Asset Management acquired 125,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of $7.90 per share, with a total value of $987,500.00. Following the acquisition, the insider now owns 12,042,190 shares of the company’s stock, valued at approximately $95,133,301. The trade was a 1.05 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders purchased 310,000 shares of company stock valued at $2,463,500. Insiders own 1.03% of the company’s stock.

Institutional Trading of JELD-WEN

A number of hedge funds have recently made changes to their positions in JELD. Victory Capital Management Inc. lifted its holdings in shares of 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 acquiring an additional 2,010,275 shares during the last quarter. Pzena Investment Management LLC raised its position in JELD-WEN by 16.5% in the 4th quarter. Pzena Investment Management LLC now owns 11,165,246 shares of the company’s stock worth $91,443,000 after purchasing an additional 1,583,238 shares during the period. Alberta Investment Management Corp purchased a new position in JELD-WEN in the 4th quarter worth $9,492,000. Parkwood LLC purchased a new position in JELD-WEN in the 4th quarter worth $8,815,000. Finally, Turtle Creek Asset Management Inc. raised its position in JELD-WEN by 7.2% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 14,842,920 shares of the company’s stock worth $121,564,000 after purchasing an additional 1,000,000 shares during the period. 95.04% of the stock is 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.