JELD-WEN Holding, Inc. (NYSE:JELD – Get Rating) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,970,000 shares, a growth of 22.7% from the August 31st total of 2,420,000 shares. Currently, 3.6% of the company's stock are sold short. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is presently 2.4 days.
Insider Buying and Selling at JELD-WEN
In related news, major shareholder Turtle Creek Asset Management acquired 17,400 shares of the business's stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $15.20 per share, with a total value of $264,480.00. Following the completion of the transaction, the insider now directly owns 17,400 shares of the company's stock, valued at approximately $264,480. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Turtle Creek Asset Management acquired 17,400 shares of the business's stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $15.20 per share, with a total value of $264,480.00. Following the completion of the transaction, the insider now directly owns 17,400 shares of the company's stock, valued at approximately $264,480. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David G. Nord acquired 20,000 shares of the business's stock in a transaction on Friday, September 9th. The stock was bought at an average cost of $11.00 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company's stock, valued at $220,000. The disclosure for this purchase can be found here. Insiders have purchased 112,913 shares of company stock valued at $1,431,896 over the last three months. 1.81% of the stock is owned by company insiders.
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Hedge Funds Weigh In On JELD-WEN
Hedge funds and other institutional investors have recently made changes to their positions in the business. Soapstone Management L.P. boosted its position in shares of JELD-WEN by 2.4% during the first quarter. Soapstone Management L.P. now owns 750,000 shares of the company's stock worth $15,210,000 after buying an additional 17,500 shares during the period. Pzena Investment Management LLC lifted its position in JELD-WEN by 6.8% in the first quarter. Pzena Investment Management LLC now owns 7,900,293 shares of the company's stock worth $160,218,000 after purchasing an additional 503,453 shares during the period. Versor Investments LP lifted its position in JELD-WEN by 139.0% in the first quarter. Versor Investments LP now owns 20,162 shares of the company's stock worth $409,000 after purchasing an additional 11,727 shares during the period. Barclays PLC lifted its position in JELD-WEN by 48.4% in the fourth quarter. Barclays PLC now owns 178,222 shares of the company's stock worth $4,697,000 after purchasing an additional 58,106 shares during the period. Finally, GW&K Investment Management LLC lifted its position in JELD-WEN by 19.9% in the first quarter. GW&K Investment Management LLC now owns 121,927 shares of the company's stock worth $2,473,000 after purchasing an additional 20,230 shares during the period. 99.54% of the stock is currently owned by institutional investors and hedge funds.
JELD-WEN Stock Performance
JELD stock traded down $0.07 during midday trading on Friday, reaching $8.75. The company had a trading volume of 1,161,817 shares, compared to its average volume of 1,455,479. The company has a quick ratio of 1.33, a current ratio of 2.14 and a debt-to-equity ratio of 2.54. The stock has a 50 day moving average price of $12.24 and a 200 day moving average price of $16.14. JELD-WEN has a fifty-two week low of $8.63 and a fifty-two week high of $28.30. The firm has a market capitalization of $737.28 million, a PE ratio of 6.39 and a beta of 2.30.
JELD-WEN (NYSE:JELD – Get Rating) last issued its earnings results on Monday, August 1st. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.12). JELD-WEN had a net margin of 2.59% and a return on equity of 19.00%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. Analysts anticipate that JELD-WEN will post 1.66 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Credit Suisse Group dropped their target price on JELD-WEN from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday, August 15th. Barclays lowered JELD-WEN from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $25.00 to $17.00 in a research report on Thursday, July 14th. UBS Group dropped their target price on JELD-WEN from $35.00 to $21.00 and set a "buy" rating on the stock in a research report on Tuesday, August 2nd. B. Riley dropped their target price on JELD-WEN from $22.00 to $17.00 in a research report on Tuesday, August 2nd. Finally, Stifel Nicolaus lowered JELD-WEN from a "buy" rating to a "hold" rating and dropped their target price for the stock from $22.00 to $17.00 in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.33.
About JELD-WEN
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JELD-WEN Holding, Inc designs, manufactures, and sells doors and windows primarily in North America, Europe, and Australasia. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; and wood, vinyl, aluminum, and wood composite windows.
Further Reading
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