Royce & Associates LP Has $15.32 Million Position in Janus International Group, Inc. (NYSE:JBI)

Key Points

• Royce & Associates LP increased its stake in Janus International Group by 14% during the first quarter, owning approximately 2.1 million shares valued at $15.3 million.
• KeyCorp raised its price target for Janus International Group shares from $9.00 to $10.00 while maintaining an "overweight" rating, reflecting investor confidence.
• Janus International Group declared a $75 million share repurchase program, indicating the board believes the stock is undervalued.

Royce & Associates LP grew its position in Janus International Group, Inc. (NYSE:JBI - Free Report) by 14.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,127,169 shares of the company's stock after buying an additional 261,116 shares during the period. Royce & Associates LP owned 1.52% of Janus International Group worth $15,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in JBI. Federated Hermes Inc. grew its stake in shares of Janus International Group by 109.3% during the fourth quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock worth $35,000 after purchasing an additional 2,506 shares during the period. Tower Research Capital LLC TRC grew its stake 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 worth $38,000 after purchasing an additional 1,544 shares during the period. Group One Trading LLC grew its stake in shares of Janus International Group by 9,000.0% during the fourth quarter. Group One Trading LLC now owns 9,100 shares of the company's stock worth $67,000 after purchasing an additional 9,000 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Janus International Group during the first quarter worth $72,000. Finally, Xponance Inc. acquired a new stake in shares of Janus International Group during the fourth quarter worth $74,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Janus International Group Trading Up 0.5%

JBI stock traded up $0.05 during midday trading on Monday, hitting $9.19. 76,821 shares of the company's stock were exchanged, compared to its average volume of 1,386,820. The stock's fifty day moving average price is $8.46 and its 200-day moving average price is $7.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.21 and a current ratio of 2.59. The company has a market cap of $1.29 billion, a PE ratio of 26.24 and a beta of 1.24. Janus International Group, Inc. has a one year low of $5.99 and a one year high of $15.24.

Janus International Group (NYSE:JBI - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $210.50 million for the quarter, compared to analyst estimates of $200.73 million. Janus International Group had a return on equity of 13.38% and a net margin of 5.49%. The company's revenue for the quarter was down 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Research analysts predict that Janus International Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Janus International Group declared that its board has authorized a stock repurchase program on Thursday, May 15th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase 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 shares are undervalued.

Analyst Upgrades and Downgrades

Separately, KeyCorp lifted their price objective on Janus International Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Janus International Group currently has a consensus rating of "Hold" and a consensus target price of $10.00.

Janus International Group Company 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.