Royal Bank of Canada Has Lowered Expectations for JELD-WEN (NYSE:JELD) Stock Price

JELD-WEN (NYSE:JELD - Free Report) had its price target lowered by Royal Bank of Canada from $9.00 to $8.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other research firms also recently commented on JELD. Barclays decreased their target price on shares of JELD-WEN from $13.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on JELD-WEN from $15.00 to $17.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. B. Riley dropped their target price on JELD-WEN from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. UBS Group decreased their price target on JELD-WEN from $19.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group dropped their price objective on JELD-WEN from $17.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.44.

JELD-WEN Stock Down 11.2 %

JELD stock traded down $1.11 during trading on Wednesday, reaching $8.77. 994,199 shares of the stock were exchanged, compared to its average volume of 689,729. The firm's 50 day moving average is $12.20 and its 200 day moving average is $13.73. The firm has a market cap of $742.12 million, a P/E ratio of -4.79 and a beta of 2.12. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64. JELD-WEN has a twelve month low of $8.65 and a twelve month high of $21.75.

JELD-WEN (NYSE:JELD - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). JELD-WEN had a positive return on equity of 12.32% and a negative net margin of 3.98%. The firm had revenue of $934.70 million for the quarter, compared to analyst estimates of $990.64 million. During the same period in the previous year, the company earned $0.53 earnings per share. JELD-WEN's revenue for the quarter was down 13.2% compared to the same quarter last year. As a group, research analysts forecast that JELD-WEN will post 0.73 EPS for the current year.

Insider Buying and Selling at JELD-WEN

In other news, major shareholder Turtle Creek Asset Management purchased 200,000 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were purchased at an average price of $10.48 per share, with a total value of $2,096,000.00. Following the transaction, the insider now directly owns 11,941,452 shares of the company's stock, valued at approximately $125,146,416.96. This represents a 1.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.03% of the company's stock.

Institutional Trading of JELD-WEN

Institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. bought a new position in JELD-WEN in the 2nd quarter worth about $5,342,000. SummerHaven Investment Management LLC boosted its holdings in shares of JELD-WEN by 2.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 42,076 shares of the company's stock worth $567,000 after purchasing an additional 1,025 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of JELD-WEN by 19.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,366,034 shares of the company's stock valued at $18,400,000 after purchasing an additional 220,177 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of JELD-WEN by 102.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,381 shares of the company's stock valued at $59,000 after buying an additional 2,216 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in JELD-WEN by 43.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,734 shares of the company's stock worth $320,000 after buying an additional 7,203 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.