Janus International Group (NYSE:JBI) Upgraded to "Buy" at Wall Street Zen

Key Points

• Janus International Group's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, while KeyCorp and UBS have also raised their price targets.
• The company reported better-than-expected quarterly earnings, with earnings per share of $0.20, exceeding the consensus estimate of $0.15.
• Janus International Group has initiated a stock buyback plan allowing up to $75 million in shares to be repurchased, indicating confidence in the company's valuation.

Janus International Group (NYSE:JBI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Other research analysts have also issued research reports about the stock. UBS Group raised their target price on shares of Janus International Group from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. KeyCorp raised their target price on shares of Janus International Group from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, August 8th.

Janus International Group Trading Up 4.4%

Shares of NYSE JBI traded up $0.45 during mid-day trading on Friday, hitting $10.47. The company's stock had a trading volume of 450,122 shares, compared to its average volume of 1,385,677. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 33.69 and a beta of 1.25. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.61 and a quick ratio of 2.26. Janus International Group has a one year low of $5.99 and a one year high of $11.49. The company's fifty day simple moving average is $8.68 and its 200-day simple moving average is $8.05.

Janus International Group (NYSE:JBI - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $228.10 million for 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 company's revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. On average, sell-side analysts anticipate that Janus International Group will post 0.54 earnings per share for the current fiscal year.

Janus International Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 15th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Janus International Group

A number of hedge funds have recently modified their holdings of the company. LPL Financial LLC raised its holdings in Janus International Group by 5.4% during the 4th quarter. LPL Financial LLC now owns 35,829 shares of the company's stock worth $263,000 after buying an additional 1,839 shares during the period. Geode Capital Management LLC raised its holdings in Janus International Group by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,232,960 shares of the company's stock worth $23,768,000 after buying an additional 17,750 shares during the period. Wells Fargo & Company MN raised its holdings in Janus International Group by 39.6% during the 4th quarter. Wells Fargo & Company MN now owns 78,580 shares of the company's stock worth $578,000 after buying an additional 22,310 shares during the period. Envestnet Asset Management Inc. raised its holdings in Janus International Group by 7.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 121,644 shares of the company's stock worth $894,000 after buying an additional 8,660 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Janus International Group by 109.3% during the 4th quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock worth $35,000 after buying an additional 2,506 shares during the period. 88.78% of the stock is currently owned by institutional investors and hedge funds.

About Janus International Group

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.