Janus International Group (NYSE:JBI) Price Target Raised to $12.00

Key Points

• KeyCorp has raised its price target for Janus International Group stock from $10.00 to $12.00, indicating a potential upside of 22.74% from its current price.
• Janus International Group reported better-than-expected quarterly earnings, with EPS of $0.20 exceeding analysts' estimates of $0.15, although revenue declined by 8.2% compared to the previous year.
• The company has initiated a $75 million stock buyback program, suggesting management believes its shares are undervalued.

Janus International Group (NYSE:JBI - Free Report) had its target price increased by KeyCorp from $10.00 to $12.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Janus International Group Stock Up 2.8%

Shares of Janus International Group stock traded up $0.27 during trading hours on Friday, reaching $10.01. 815,804 shares of the company's stock were exchanged, compared to its average volume of 1,387,919. The company has a 50 day moving average of $8.64 and a two-hundred day moving average of $8.04. Janus International Group has a fifty-two week low of $5.99 and a fifty-two week high of $11.49. The company has a current ratio of 2.61, a quick ratio of 2.26 and a debt-to-equity ratio of 1.00. The stock has a market cap of $1.40 billion, a P/E ratio of 32.30 and a beta of 1.25.

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 analysts' consensus estimates of $0.15 by $0.05. The company had revenue of $228.10 million for the quarter, compared to analysts' expectations of $216.99 million. Janus International Group had a net margin of 4.85% and a return on equity of 13.10%. Janus International Group's quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that Janus International Group will post 0.54 EPS for the current fiscal year.

Janus International Group announced that its board has initiated a stock buyback program on Thursday, May 15th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Institutional Trading of Janus International Group

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of Janus International Group by 5.0% during the second quarter. Rhumbline Advisers now owns 203,196 shares of the company's stock worth $1,654,000 after purchasing an additional 9,632 shares during the period. Franklin Resources Inc. bought a new stake in shares of Janus International Group during the second quarter valued at approximately $745,000. Legal & General Group Plc increased its position in shares of Janus International Group by 1.4% during the second quarter. Legal & General Group Plc now owns 183,594 shares of the company's stock worth $1,494,000 after acquiring an additional 2,517 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Janus International Group by 87.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 60,117 shares of the company's stock worth $489,000 after acquiring an additional 28,108 shares in the last quarter. Finally, Seizert Capital Partners LLC bought a new stake in shares of Janus International Group during the second quarter worth about $126,000. Institutional investors and hedge funds own 88.78% of the company's stock.

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.