Janus International Group (NYSE:JBI) Shares Gap Down - Here's Why

Key Points

• Janus International shares fell sharply, opening at $4.80 versus a prior close of $5.37 and later trading near $5.20.
• Analyst sentiment is cautious: UBS cut its price target to $6.00, while the consensus rating is “Hold” with an average target of $8.33.
• The company exceeded quarterly EPS expectations, reporting $0.17 versus $0.14 forecast, but revenue of $233.5 million came in below estimates despite growing 2.4% year over year.

Janus International Group, Inc. (NYSE:JBI - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $5.37, but opened at $4.80. Janus International Group shares last traded at $5.1950, with a volume of 725,350 shares traded.

Analyst Upgrades and Downgrades

JBI has been the topic of several recent research reports. UBS Group lowered their price target on shares of Janus International Group from $7.25 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Janus International Group in a research report on Wednesday, June 24th. Finally, Wall Street Zen cut Janus International Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.33.

Janus International Group Price Performance

The business has a fifty day moving average of $5.32 and a 200 day moving average of $5.66. The firm has a market cap of $704.71 million, a P/E ratio of 16.40 and a beta of 1.47. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 0.96.

Janus International Group (NYSE:JBI - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. Janus International Group had a return on equity of 12.18% and a net margin of 4.82%.The firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $238.78 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Janus International Group, Inc. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Janus International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Janus International Group by 23.6% during the 1st quarter. Royal Bank of Canada now owns 150,581 shares of the company's stock worth $1,084,000 after buying an additional 28,709 shares during the last quarter. AQR Capital Management LLC lifted its position in Janus International Group by 66.4% during the first quarter. AQR Capital Management LLC now owns 272,602 shares of the company's stock worth $1,963,000 after acquiring an additional 108,809 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Janus International Group during the first quarter worth approximately $231,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Janus International Group by 5.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,787 shares of the company's stock worth $2,014,000 after acquiring an additional 14,125 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Janus International Group by 118.1% in the first quarter. Jane Street Group LLC now owns 189,655 shares of the company's stock valued at $1,366,000 after purchasing an additional 102,679 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

About Janus International Group

Janus International Group, Inc is a global provider of specialized storage and security products for self-storage, commercial, industrial and residential applications. The company designs, engineers and manufactures a broad range of building components focused on perimeter security and facility access solutions. Janus serves customers through dealer networks, direct sales offices and distribution partners across multiple end markets.

Core product offerings include steel roll-up doors and sectional overhead doors, perimeter fencing and automated gate systems, parking security products and climate-controlled modular storage buildings.

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