American Century Companies Inc. Buys 3,275,656 Shares of Janus International Group, Inc. $JBI

Key Points

• American Century Companies Inc. increased its stake in Janus International Group by 914.9% in the first quarter, now owning about 2.59% of the company valued at $26.16 million.
• Janus International Group reported earnings per share of $0.20 for its latest quarter, exceeding analysts' expectations, but its revenue was down 8.2% year-over-year.
• The company has initiated a $75 million share repurchase plan, indicating management's belief that its stock is undervalued.

American Century Companies Inc. raised its position in Janus International Group, Inc. (NYSE:JBI - Free Report) by 914.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,633,684 shares of the company's stock after purchasing an additional 3,275,656 shares during the period. American Century Companies Inc. owned 2.59% of Janus International Group worth $26,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in JBI. Tower Research Capital LLC TRC lifted its holdings in shares of Janus International Group by 42.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock worth $38,000 after acquiring an additional 1,544 shares during the last quarter. Group One Trading LLC lifted its holdings in shares of Janus International Group by 9,000.0% during the 4th quarter. Group One Trading LLC now owns 9,100 shares of the company's stock worth $67,000 after acquiring an additional 9,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Janus International Group during the 1st quarter worth $72,000. CWM LLC lifted its holdings in shares of Janus International Group by 571.1% during the 1st quarter. CWM LLC now owns 11,012 shares of the company's stock worth $79,000 after acquiring an additional 9,371 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Janus International Group during the 4th quarter worth $95,000. 88.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Janus International Group from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Jefferies Financial Group lifted their price objective on shares of Janus International Group from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. KeyCorp lifted their price objective on shares of Janus International Group from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, UBS Group boosted their price target on shares of Janus International Group from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $10.67.

Janus International Group Trading Up 0.5%

Shares of JBI stock traded up $0.06 during mid-day trading on Wednesday, reaching $10.44. The stock had a trading volume of 220,627 shares, compared to its average volume of 1,373,353. Janus International Group, Inc. has a 52-week low of $5.99 and a 52-week high of $11.10. The company has a current ratio of 2.61, a quick ratio of 2.26 and a debt-to-equity ratio of 1.00. The stock's 50-day moving average price is $9.09 and its two-hundred day moving average price is $8.20. The firm has a market capitalization of $1.45 billion, a PE ratio of 33.64 and a beta of 1.25.

Janus International Group (NYSE:JBI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. Janus International Group had a net margin of 4.85% and a return on equity of 13.10%. The company had revenue of $228.10 million for the quarter, compared to analysts' expectations of $216.99 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. Janus International Group's quarterly revenue was down 8.2% on a year-over-year basis. Janus International Group has set its FY 2025 guidance at EPS. Equities analysts expect that Janus International Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Janus International Group announced that its board has approved a stock repurchase program on Thursday, May 15th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

About Janus International Group

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.