Janus International Group, Inc. (NYSE:JBI - Get Free Report) shares traded up 14.3% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $9.85 and last traded at $9.93. 904,282 shares were traded during trading, a decline of 34% from the average session volume of 1,360,985 shares. The stock had previously closed at $8.68.
The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. Janus International Group had a return on equity of 13.38% and a net margin of 5.49%. Janus International Group's revenue was down 8.2% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS.
Janus International Group declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Separately, KeyCorp lifted their price target on shares of Janus International Group from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.00.
Check Out Our Latest Stock Report on Janus International Group
Hedge Funds Weigh In On Janus International Group
A number of institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new stake in shares of Janus International Group in the 1st quarter valued at $228,000. GAMMA Investing LLC grew its holdings in shares of Janus International Group by 787.5% during the first quarter. GAMMA Investing LLC now owns 17,813 shares of the company's stock valued at $128,000 after buying an additional 15,806 shares during the last quarter. Group One Trading LLC grew its holdings 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 valued at $67,000 after buying an additional 9,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Janus International Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,735 shares of the company's stock valued at $593,000 after buying an additional 2,890 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Janus International Group by 1.1% during the first quarter. Principal Financial Group Inc. now owns 212,713 shares of the company's stock valued at $1,532,000 after buying an additional 2,338 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.
Janus International Group Price Performance
The company has a quick ratio of 2.21, a current ratio of 2.59 and a debt-to-equity ratio of 1.03. The business's 50-day moving average is $8.54 and its two-hundred day moving average is $7.99. The company has a market capitalization of $1.38 billion, a P/E ratio of 28.18 and a beta of 1.25.
Janus International Group Company Profile
(
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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.
Further Reading
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