Janus International Group, Inc. $JBI Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Janus International Group by 2.7%, selling 36,794 shares and retaining 1,314,925 shares valued at approximately $9.47 million.
• Janus International Group reported earnings of $0.20 per share, which exceeded analysts' expectations, despite an 8.2% decline in revenue year-over-year.
• The company has initiated a stock repurchase plan allowing the repurchase of up to $75 million in stock, signaling potential confidence from management in the stock’s valuation.

Northern Trust Corp cut its position in Janus International Group, Inc. (NYSE:JBI - Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,314,925 shares of the company's stock after selling 36,794 shares during the quarter. Northern Trust Corp owned approximately 0.94% of Janus International Group worth $9,467,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in shares of Janus International Group by 42.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock valued at $38,000 after acquiring an additional 1,544 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Janus International Group during the fourth quarter valued at about $124,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Janus International Group by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 55,809 shares of the company's stock valued at $411,000 after acquiring an additional 9,482 shares in the last quarter. Comerica Bank increased its holdings in shares of Janus International Group by 103.4% during the fourth quarter. Comerica Bank now owns 14,241 shares of the company's stock valued at $105,000 after acquiring an additional 7,241 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Janus International Group by 17.9% during the fourth quarter. Jane Street Group LLC now owns 86,976 shares of the company's stock valued at $639,000 after acquiring an additional 13,220 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

JBI has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Janus International Group from $9.00 to $10.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. KeyCorp upped their price objective on Janus International Group from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. UBS Group upped their price objective on Janus International Group from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Janus International Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.67.

Janus International Group Price Performance

NYSE JBI traded up $0.35 during mid-day trading on Thursday, hitting $10.42. The stock had a trading volume of 525,967 shares, compared to its average volume of 816,476. Janus International Group, Inc. has a twelve month low of $5.99 and a twelve month high of $10.73. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 33.61 and a beta of 1.31. The firm's 50 day moving average is $9.56 and its 200 day moving average is $8.37. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.61 and a quick ratio of 2.26.

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

Janus International Group announced that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Janus International Group Profile

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.