JELD-WEN (NYSE:JELD) Announces Quarterly Earnings Results

JELD-WEN (NYSE:JELD) posted its quarterly earnings results on Monday. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03, FiscalAI reports. The business had revenue of $817.80 million for the quarter, compared to analysts’ expectations of $792.64 million. JELD-WEN had a negative return on equity of 65.79% and a negative net margin of 16.02%.

JELD-WEN Stock Up 1.1%

Shares of NYSE:JELD opened at $1.44 on Tuesday. The company has a market cap of $123.63 million, a price-to-earnings ratio of -0.24 and a beta of 2.10. JELD-WEN has a one year low of $0.93 and a one year high of $6.97. The firm has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.73. The company has a debt-to-equity ratio of 97.65, a current ratio of 1.68 and a quick ratio of 0.93.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group reduced their price objective on JELD-WEN from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Wall Street Zen downgraded JELD-WEN from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of JELD-WEN in a report on Friday, May 22nd. UBS Group reduced their price objective on JELD-WEN from $3.00 to $1.60 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Finally, Barclays lowered their target price on JELD-WEN from $2.50 to $1.50 and set an “equal weight” rating on the stock in a research note on Tuesday, July 14th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $1.80.

Insiders Place Their Bets

In related news, Director Bruce M. Taten sold 19,483 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $1.66, for a total value of $32,341.78. Following the transaction, the director directly owned 88,158 shares in the company, valued at approximately $146,342.28. This represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.87% of the stock is owned by corporate insiders.

Institutional Trading of JELD-WEN

Institutional investors have recently made changes to their positions in the stock. Turtle Creek Asset Management Inc. grew its holdings in JELD-WEN by 2.5% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 16,625,557 shares of the company’s stock worth $81,631,000 after acquiring an additional 407,947 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of JELD-WEN by 3.0% during the third quarter. Vanguard Group Inc. now owns 5,021,099 shares of the company’s stock worth $24,654,000 after purchasing an additional 145,755 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of JELD-WEN by 23.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,429,498 shares of the company’s stock worth $10,897,000 after purchasing an additional 840,034 shares during the period. Federated Hermes Inc. grew its stake in shares of JELD-WEN by 45.6% in the fourth quarter. Federated Hermes Inc. now owns 3,338,835 shares of the company’s stock worth $8,214,000 after purchasing an additional 1,045,273 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in JELD-WEN by 76.2% during the 3rd quarter. Millennium Management LLC now owns 2,673,994 shares of the company’s stock valued at $13,129,000 after purchasing an additional 1,156,751 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

JELD-WEN Company Profile

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.