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

JELD-WEN Holding, Inc. (NYSE:JELD) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 4,867,692 shares, a growth of 33.3% from the February 26th total of 3,651,658 shares. Approximately 5.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,832,579 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of JELD-WEN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group cut their price target on shares of JELD-WEN from $3.75 to $3.25 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Jefferies Financial Group upped their price objective on shares of JELD-WEN from $2.25 to $2.60 and gave the stock a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of JELD-WEN in a research note on Monday, December 29th. Finally, Barclays set a $2.50 target price on shares of JELD-WEN in a research report on Monday, December 8th. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $3.35.

Institutional Investors Weigh In On JELD-WEN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JELD. Royal Bank of Canada grew its position in shares of JELD-WEN by 66.1% in the first quarter. Royal Bank of Canada now owns 53,641 shares of the company’s stock valued at $321,000 after purchasing an additional 21,346 shares in the last quarter. AQR Capital Management LLC lifted its holdings in JELD-WEN by 37.5% during the 1st quarter. AQR Capital Management LLC now owns 375,806 shares of the company’s stock worth $2,244,000 after purchasing an additional 102,543 shares in the last quarter. Millennium Management LLC boosted its stake in JELD-WEN by 42.7% in the 1st quarter. Millennium Management LLC now owns 902,802 shares of the company’s stock worth $5,390,000 after purchasing an additional 270,226 shares during the period. Empowered Funds LLC grew its holdings in JELD-WEN by 3.1% during the 1st quarter. Empowered Funds LLC now owns 442,547 shares of the company’s stock valued at $2,642,000 after buying an additional 13,115 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in JELD-WEN by 82.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,514 shares of the company’s stock valued at $2,367,000 after buying an additional 179,615 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

JELD-WEN Stock Performance

JELD-WEN stock traded down $0.04 during trading on Monday, hitting $1.11. The stock had a trading volume of 1,560,576 shares, compared to its average volume of 1,713,368. The stock’s 50 day moving average is $2.10 and its two-hundred day moving average is $3.01. JELD-WEN has a 1 year low of $1.10 and a 1 year high of $6.98. The stock has a market cap of $95.37 million, a price-to-earnings ratio of -0.15 and a beta of 1.77. The company has a quick ratio of 0.99, a current ratio of 1.76 and a debt-to-equity ratio of 12.47.

JELD-WEN (NYSE:JELD) last released its earnings results on Tuesday, February 17th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.19). JELD-WEN had a negative return on equity of 29.63% and a negative net margin of 18.96%.The firm had revenue of $801.96 million during the quarter, compared to analysts’ expectations of $747.20 million. As a group, analysts predict that JELD-WEN will post 0.88 EPS for the current year.

About JELD-WEN

JELD-WEN is a global manufacturer of windows and doors and related building products, serving both residential and commercial markets. The company’s portfolio includes wood, vinyl and aluminum windows; interior wood doors; and exterior doors crafted from steel, fiberglass and composite materials. JELD-WEN’s products are designed for new construction and remodeling applications, with an emphasis on quality, durability and energy efficiency.

Founded in 1960 in Klamath Falls, Oregon, JELD-WEN has grown through a combination of organic expansion and strategic acquisitions to establish a manufacturing footprint in North America, Europe and Australasia.