Wedge Capital Management L L P NC Takes Position in Janus International Group, Inc. (NYSE:JBI)

Wedge Capital Management L L P NC acquired a new stake in Janus International Group, Inc. (NYSE:JBI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 161,645 shares of the company's stock, valued at approximately $1,164,000. Wedge Capital Management L L P NC owned 0.12% of Janus International Group as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in shares of Janus International Group by 74.9% in the fourth quarter. FMR LLC now owns 14,544,033 shares of the company's stock worth $106,899,000 after purchasing an additional 6,227,738 shares during the period. Vanguard Group Inc. increased its stake in Janus International Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 13,504,970 shares of the company's stock worth $99,262,000 after purchasing an additional 43,135 shares during the period. JPMorgan Chase & Co. raised its holdings in Janus International Group by 31.0% during the 4th quarter. JPMorgan Chase & Co. now owns 9,332,406 shares of the company's stock valued at $68,593,000 after buying an additional 2,207,140 shares during the last quarter. Cooke & Bieler LP raised its stake in shares of Janus International Group by 25.9% during the fourth quarter. Cooke & Bieler LP now owns 7,549,000 shares of the company's stock valued at $55,485,000 after acquiring an additional 1,551,545 shares during the last quarter. Finally, Senvest Management LLC raised its position in Janus International Group by 47.0% during the 4th quarter. Senvest Management LLC now owns 5,671,431 shares of the company's stock valued at $41,685,000 after purchasing an additional 1,812,602 shares during the last quarter. Institutional investors own 88.78% of the company's stock.

Janus International Group Stock Down 5.1%

Shares of JBI stock traded down $0.43 during trading hours on Friday, hitting $7.97. 1,604,550 shares of the company's stock traded hands, compared to its average volume of 1,930,004. The company has a quick ratio of 2.39, a current ratio of 2.80 and a debt-to-equity ratio of 1.11. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 11.07 and a beta of 1.25. The stock's fifty day simple moving average is $7.53 and its two-hundred day simple moving average is $7.69. Janus International Group, Inc. has a 12-month low of $5.99 and a 12-month high of $15.24.

Janus International Group (NYSE:JBI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. Janus International Group had a net margin of 10.62% and a return on equity of 21.10%. The business had revenue of $210.50 million during the quarter, compared to analyst estimates of $200.73 million. During the same period last year, the business earned $0.21 EPS. Janus International Group's revenue was down 17.3% compared to the same quarter last year. On average, analysts expect that Janus International Group, Inc. will post 0.54 EPS for the current year.

Janus International Group announced that its Board of Directors has approved 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, KeyCorp raised their target price on shares of Janus International Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.