JELD-WEN (NYSE:JELD) Stock Price Down 4.3% - Here's What Happened

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)'s share price fell 4.3% on Friday . The stock traded as low as $6.37 and last traded at $6.35. 153,924 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,595,043 shares. The stock had previously closed at $6.63.

Analysts Set New Price Targets

JELD has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of JELD-WEN from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group upped their price objective on shares of JELD-WEN from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Jefferies Financial Group increased 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. Finally, Barclays raised their target price on shares of JELD-WEN from $4.50 to $5.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. 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, the company presently has a consensus rating of "Reduce" and a consensus price target of $6.03.

JELD-WEN Price Performance

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 stock's 50-day moving average price is $5.47 and its 200 day moving average price is $5.04. The firm has a market capitalization of $544.60 million, a price-to-earnings ratio of -1.59 and a beta of 1.68.

Hedge Funds Weigh In On JELD-WEN

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its position in JELD-WEN by 0.9% in the 1st quarter. American Century Companies Inc. now owns 5,829,115 shares of the company's stock valued at $34,800,000 after buying an additional 53,175 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of JELD-WEN by 94.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,707,888 shares of the company's stock worth $10,615,000 after purchasing an additional 1,313,463 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of JELD-WEN by 11.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,489,949 shares of the company's stock worth $14,865,000 after purchasing an additional 264,510 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of JELD-WEN by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,016,339 shares of the company's stock worth $7,905,000 after buying an additional 24,909 shares during the last quarter. Finally, Alberta Investment Management Corp raised its stake in shares of JELD-WEN by 43.1% during the 1st quarter. Alberta Investment Management Corp now owns 1,659,000 shares of the company's stock worth $9,904,000 after buying an additional 500,000 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.