Janus International Group (NYSE:JBI) Price Target Raised to $10.00 at UBS Group

Key Points

• UBS Group has raised the price target for Janus International Group from $9.00 to $10.00, reflecting a potential upside of 3.24% from the current stock price.
• KeyCorp also increased its price target on the stock from $10.00 to $12.00 and rated it as "overweight," indicating positive growth expectations.
• The company's recent earnings report showed a profit of $0.20 per share, surpassing estimates, despite a year-over-year revenue decline of 8.2%.

Janus International Group (NYSE:JBI - Get Free Report) had its price objective hoisted by equities researchers at UBS Group from $9.00 to $10.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential downside of 2.49% from the stock's previous close.

Separately, KeyCorp lifted their price target on shares of Janus International Group from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th.

Janus International Group Stock Up 2.3%

Shares of NYSE:JBI traded up $0.24 during midday trading on Friday, reaching $10.26. The company had a trading volume of 205,264 shares, compared to its average volume of 1,384,079. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.61 and a quick ratio of 2.26. The stock's fifty day moving average price is $8.68 and its 200-day moving average price is $8.05. The stock has a market capitalization of $1.44 billion, a P/E ratio of 33.02 and a beta of 1.25. Janus International Group has a one year low of $5.99 and a one year high of $11.49.

Janus International Group (NYSE:JBI - Get Free Report) last issued its quarterly 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. The business had revenue of $228.10 million during the quarter, compared to analyst estimates of $216.99 million. Janus International Group had a net margin of 4.85% and a return on equity of 13.10%. The business's revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Equities research analysts expect that Janus International Group will post 0.54 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Janus International Group

A number of hedge funds have recently added to or reduced their stakes in JBI. Federated Hermes Inc. boosted its holdings 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 valued at $35,000 after acquiring an additional 2,506 shares during the period. AlphaQuest LLC boosted its holdings in shares of Janus International Group by 336.2% during the first quarter. AlphaQuest LLC now owns 5,091 shares of the company's stock valued at $37,000 after acquiring an additional 3,924 shares during the period. Tower Research Capital LLC TRC boosted 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 during the period. Quarry LP acquired a new position in shares of Janus International Group during the first quarter valued at $43,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Janus International Group by 771.0% during the second quarter. Russell Investments Group Ltd. now owns 7,229 shares of the company's stock valued at $59,000 after acquiring an additional 6,399 shares during the period. Institutional investors and hedge funds own 88.78% of the company's stock.

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.