Royal Bank of Canada Reiterates “Underperform” Rating for JELD-WEN (NYSE:JELD)

JELD-WEN (NYSE:JELD)‘s stock had its “underperform” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They currently have a $13.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 8.45% from the company’s current price.

JELD has been the subject of several other research reports. UBS Group decreased their target price on shares of JELD-WEN from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. The Goldman Sachs Group decreased their price objective on shares of JELD-WEN from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Loop Capital decreased their price objective on shares of JELD-WEN from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 19th. Barclays decreased their price objective on shares of JELD-WEN from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, StockNews.com cut shares of JELD-WEN from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JELD-WEN currently has a consensus rating of “Hold” and an average price target of $16.80.

JELD-WEN Stock Performance

NYSE JELD traded down $0.43 on Wednesday, hitting $14.20. The stock had a trading volume of 290,834 shares, compared to its average volume of 698,441. JELD-WEN has a one year low of $11.02 and a one year high of $21.75. The company has a quick ratio of 1.39, a current ratio of 2.08 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 61.96 and a beta of 2.28. The company’s 50-day moving average is $14.51 and its two-hundred day moving average is $17.11.

JELD-WEN (NYSE:JELD) last posted its earnings results on Monday, August 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. JELD-WEN had a net margin of 0.47% and a return on equity of 15.78%. The firm had revenue of $986.00 million during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. JELD-WEN’s quarterly revenue was down 12.4% on a year-over-year basis. On average, analysts expect that JELD-WEN will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On JELD-WEN

Several hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC lifted its position in shares of JELD-WEN by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 40,531 shares of the company’s stock valued at $765,000 after acquiring an additional 591 shares in the last quarter. Diversified Trust Co lifted its position in shares of JELD-WEN by 4.2% in the 1st quarter. Diversified Trust Co now owns 24,301 shares of the company’s stock valued at $516,000 after acquiring an additional 981 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of JELD-WEN by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 15,305 shares of the company’s stock valued at $325,000 after acquiring an additional 1,205 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of JELD-WEN by 790.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,165 shares of the company’s stock valued at $46,000 after acquiring an additional 1,922 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in JELD-WEN in the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.