Janus International Group (NYSE:JBI) Stock Price Expected to Rise, KeyCorp Analyst Says

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. They currently have an overweight rating on the stock.

Janus International Group Stock Down 0.1%

Shares of JBI stock traded down $0.01 on Friday, reaching $9.84. 1,967,157 shares of the stock were exchanged, compared to its average volume of 987,465. The company has a current ratio of 2.59, a quick ratio of 2.21 and a debt-to-equity ratio of 1.03. The business's 50 day moving average price is $8.60 and its 200 day moving average price is $8.02. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 31.73 and a beta of 1.25. Janus International Group has a twelve month low of $5.99 and a twelve month high of $11.49.

Janus International Group (NYSE:JBI - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.05. Janus International Group had a net margin of 4.85% and a return on equity of 13.22%. The firm had revenue of $228.10 million during the quarter, compared to the consensus estimate of $216.99 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company's revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that Janus International Group will post 0.54 earnings per share for the current fiscal year.

Janus International Group declared that its board has initiated a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Janus International Group

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in shares of Janus International Group by 109.3% during the fourth 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. AlphaQuest LLC boosted its stake in shares of Janus International Group by 336.2% during the first quarter. AlphaQuest LLC now owns 5,091 shares of the company's stock worth $37,000 after buying an additional 3,924 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Janus International Group by 42.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock worth $38,000 after buying an additional 1,544 shares during the period. Quarry LP acquired a new stake in shares of Janus International Group during the first quarter worth about $43,000. Finally, Group One Trading LLC boosted its stake 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 worth $67,000 after buying an additional 9,000 shares during the period. 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.