BlackRock Inc. Makes New Investment in JELD-WEN Holding, Inc. $JELD

Key Points

• BlackRock initiated a position in JELD-WEN during the second quarter, purchasing 2.45 million shares valued at approximately $3.7 million, or 2.82% of the company.
• Institutional ownership remains high at 95.04%, with several investment firms—including UBS Asset Management, Millennium Management and AQR Capital—also increasing their stakes.
• JELD-WEN exceeded quarterly revenue and earnings expectations, but remains unprofitable; analysts maintain a generally cautious outlook with an average “Reduce” rating and a $2.10 price target.

BlackRock Inc. bought a new position in shares of JELD-WEN Holding, Inc. (NYSE:JELD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,445,478 shares of the company's stock, valued at approximately $3,668,000. BlackRock Inc. owned about 2.82% of JELD-WEN as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in JELD-WEN by 66.1% during the 1st quarter. Royal Bank of Canada now owns 53,641 shares of the company's stock worth $321,000 after buying an additional 21,346 shares in the last quarter. AQR Capital Management LLC increased its position in JELD-WEN by 37.5% in the 1st quarter. AQR Capital Management LLC now owns 375,806 shares of the company's stock valued at $2,244,000 after acquiring an additional 102,543 shares in the last quarter. Millennium Management LLC increased its position in JELD-WEN by 42.7% in the 1st quarter. Millennium Management LLC now owns 902,802 shares of the company's stock valued at $5,390,000 after acquiring an additional 270,226 shares in the last quarter. Empowered Funds LLC raised its stake in shares of JELD-WEN by 3.1% in the first quarter. Empowered Funds LLC now owns 442,547 shares of the company's stock worth $2,642,000 after acquiring an additional 13,115 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of JELD-WEN by 82.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,514 shares of the company's stock worth $2,367,000 after acquiring an additional 179,615 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

JELD-WEN Price Performance

JELD opened at $2.29 on Friday. The company has a fifty day moving average price of $1.67 and a two-hundred day moving average price of $1.62. The firm has a market capitalization of $198.68 million, a PE ratio of -0.38 and a beta of 2.18. JELD-WEN Holding, Inc. has a 52 week low of $0.93 and a 52 week high of $6.97. The company has a debt-to-equity ratio of 97.65, a quick ratio of 0.98 and a current ratio of 1.73.

JELD-WEN (NYSE:JELD - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. JELD-WEN had a negative return on equity of 246.42% and a negative net margin of 16.36%.The company had revenue of $817.84 million for the quarter, compared to the consensus estimate of $792.64 million.

Analysts Set New Price Targets

Several analysts have recently commented on JELD shares. Weiss Ratings raised shares of JELD-WEN from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. UBS Group boosted their price objective on shares of JELD-WEN from $1.60 to $1.80 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Wall Street Zen raised JELD-WEN from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $2.00 price objective on shares of JELD-WEN in a research report on Thursday, August 6th. Finally, Barclays lifted their target price on JELD-WEN from $1.50 to $2.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 5th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $2.10.

About JELD-WEN

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.

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