JELD-WEN Holding, Inc. (NYSE:JELD) Sees Large Growth in Short Interest

JELD-WEN Holding, Inc. (NYSE:JELD) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 4,910,000 shares, an increase of 63.7% from the February 13th total of 3,000,000 shares. Approximately 5.9% of the company’s stock are sold short. Based on an average daily volume of 918,200 shares, the days-to-cover ratio is currently 5.3 days.

JELD-WEN Price Performance

Shares of JELD traded up $0.15 during mid-day trading on Friday, reaching $6.14. The company had a trading volume of 1,054,376 shares, compared to its average volume of 1,043,802. The company’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $10.84. JELD-WEN has a 1-year low of $5.44 and a 1-year high of $21.75. 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 market capitalization of $520.55 million, a price-to-earnings ratio of -2.75 and a beta of 2.22.

JELD-WEN (NYSE:JELD) last issued its quarterly earnings data 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 business had revenue of $895.70 million during the quarter, compared to the consensus estimate of $860.82 million. JELD-WEN had a negative net margin of 5.01% and a positive return on equity of 7.14%. Analysts expect that JELD-WEN will post 0.88 EPS for the current year.

Insider Transactions at JELD-WEN

In other JELD-WEN news, Director David G. Nord acquired 20,000 shares of JELD-WEN stock in a transaction dated Monday, February 24th. The stock was bought at an average cost of $5.96 per share, with a total value of $119,200.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at approximately $238,400. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Turtle Creek Asset Management acquired 125,000 shares of JELD-WEN stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $7.90 per share, with a total value of $987,500.00. Following the completion of the acquisition, the insider now directly owns 12,042,190 shares in the company, valued at $95,133,301. This trade represents a 1.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 525,137 shares of company stock worth $3,719,287 in the last 90 days. 1.03% of the stock is owned by insiders.

Institutional Trading of JELD-WEN

Several hedge funds have recently modified their holdings of the stock. Diversified Trust Co boosted its holdings in JELD-WEN by 8.8% during the 4th quarter. Diversified Trust Co now owns 27,614 shares of the company’s stock worth $226,000 after acquiring an additional 2,242 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in JELD-WEN by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 51,911 shares of the company’s stock worth $425,000 after acquiring an additional 3,066 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in JELD-WEN by 10.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,249 shares of the company’s stock worth $573,000 after acquiring an additional 3,383 shares during the last quarter. Performa Ltd US LLC boosted its holdings in JELD-WEN by 1,580.0% during the 4th quarter. Performa Ltd US LLC now owns 4,200 shares of the company’s stock worth $34,000 after acquiring an additional 3,950 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in JELD-WEN by 10.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,261 shares of the company’s stock worth $412,000 after acquiring an additional 4,944 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on JELD. The Goldman Sachs Group lowered their price target on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. UBS Group lowered their price target on shares of JELD-WEN from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Truist Financial reduced their price objective on shares of JELD-WEN from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada cut their price target on shares of JELD-WEN from $7.00 to $5.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Loop Capital cut their price target on shares of JELD-WEN from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. 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 currently has an average rating of “Hold” and an average target price of $9.06.

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.