Royal Bank of Canada Lowers Jeld-Wen (JELD) to Sector Perform

Royal Bank of Canada lowered shares of Jeld-Wen (NYSE:JELD) from an outperform rating to a sector perform rating in a research note issued to investors on Friday, Marketbeat Ratings reports. Royal Bank of Canada currently has $18.00 target price on the stock, down from their prior target price of $21.00.

Several other research firms also recently weighed in on JELD. Macquarie assumed coverage on shares of Jeld-Wen in a report on Wednesday, September 26th. They set a buy rating and a $35.00 target price for the company. Robert W. Baird downgraded shares of Jeld-Wen from an outperform rating to a neutral rating and dropped their target price for the company from $34.00 to $23.00 in a report on Monday, October 8th. Barclays dropped their target price on shares of Jeld-Wen from $35.00 to $32.00 and set a buy rating for the company in a report on Tuesday, October 9th. Goldman Sachs Group initiated coverage on shares of Jeld-Wen in a report on Tuesday, October 2nd. They set a buy rating and a $31.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Jeld-Wen from a strong sell rating to a hold rating in a report on Wednesday, October 10th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $23.93.

NYSE:JELD opened at $16.37 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.75 and a debt-to-equity ratio of 1.89. Jeld-Wen has a twelve month low of $13.28 and a twelve month high of $41.37. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.75 and a beta of 2.66.

Jeld-Wen (NYSE:JELD) last posted its earnings results on Tuesday, November 6th. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.13). Jeld-Wen had a net margin of 0.26% and a return on equity of 19.06%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business posted $0.55 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts forecast that Jeld-Wen will post 1.51 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of JELD. Channing Capital Management LLC grew its holdings in shares of Jeld-Wen by 583.4% during the third quarter. Channing Capital Management LLC now owns 1,966,637 shares of the company’s stock worth $48,497,000 after buying an additional 1,678,868 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in shares of Jeld-Wen in the third quarter worth approximately $24,660,000. Hound Partners LLC boosted its position in shares of Jeld-Wen by 9.9% in the third quarter. Hound Partners LLC now owns 8,218,358 shares of the company’s stock worth $202,665,000 after acquiring an additional 737,178 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Jeld-Wen in the third quarter worth approximately $16,600,000. Finally, Davidson Kempner Capital Management LP boosted its position in shares of Jeld-Wen by 146.2% in the second quarter. Davidson Kempner Capital Management LP now owns 800,000 shares of the company’s stock worth $22,872,000 after acquiring an additional 475,000 shares during the last quarter. Institutional investors and hedge funds own 65.38% of the company’s stock.

About Jeld-Wen

JELD-WEN Holding, Inc 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, and aluminum windows.

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Analyst Recommendations for Jeld-Wen (NYSE:JELD)

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