JELD-WEN (NYSE:JELD) Trading Down 4.3% - Here's Why

Key Points

• JELD-WEN's stock fell 4.3% on Friday, trading at $6.35, significantly below its previous close of $6.63, with a 90% decrease in average trading volume.
• Multiple analysts upgraded JELD-WEN ratings, with the average target price now at $6.03, indicating a cautious outlook on the stock.
• Institutional investors hold 95.04% of JELD-WEN's stock, with notable increases in holdings by Federated Hermes and Turtle Creek Asset Management.

JELD-WEN Holding, Inc. (NYSE:JELD - Get Free Report) dropped 4.3% during trading on Friday . The company traded as low as $6.37 and last traded at $6.35. Approximately 153,924 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,595,043 shares. The stock had previously closed at $6.63.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on JELD shares. Wall Street Zen raised JELD-WEN from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays upped their price objective on JELD-WEN from $4.50 to $5.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. UBS Group upped their price objective on JELD-WEN from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group upped their price target on shares of JELD-WEN from $3.75 to $5.25 and gave the company a "hold" rating in a report on Wednesday, August 20th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, JELD-WEN presently has an average rating of "Reduce" and an average target price of $6.03.

JELD-WEN Stock Performance

The business has a 50 day simple moving average of $5.35 and a 200 day simple moving average of $5.03. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $546.99 million, a PE ratio of -1.58 and a beta of 1.68.

Institutional Trading of JELD-WEN

Several institutional investors have recently bought and sold shares of JELD. Federated Hermes Inc. grew its holdings in JELD-WEN by 94.2% in the second quarter. Federated Hermes Inc. now owns 2,707,888 shares of the company's stock valued at $10,615,000 after purchasing an additional 1,313,463 shares during the period. Nomura Holdings Inc. acquired a new stake in JELD-WEN in the second quarter valued at approximately $4,363,000. Turtle Creek Asset Management Inc. boosted its stake in shares of JELD-WEN by 7.2% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 14,842,920 shares of the company's stock worth $121,564,000 after acquiring an additional 1,000,000 shares during the last quarter. IMS Capital Management acquired a new stake in shares of JELD-WEN in the second quarter worth approximately $2,689,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of JELD-WEN by 131.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,190,150 shares of the company's stock worth $7,105,000 after acquiring an additional 675,320 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

JELD-WEN Company Profile

JELD-WEN Holding, Inc designs, manufactures, and sells wood, metal, and composite materials doors, windows, and related building products in North America and Europe. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; stile and rail doors; and wood, vinyl, and wood composite windows.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.