| Over a week ago | ||||
RBC Capital analyst Mike… RBC Capital analyst Mike Dahl downgraded Jeld-Wen to Underperform from Sector Perform with a price target of $12, down from $24. The analyst cites the company's "significant" international exposure, continued operational headwinds and the limited upside from door price increases due to business mix for the downgrade. | ||||
Six Flags (SIX) announced… Six Flags (SIX) announced that Laura Doerre has joined the company as Executive Vice President and General Counsel. She succeeds Lance Balk, who retired on March 2 after more than 9 years in the role. Doerre will be based in Arlington, Texas, at the Company's future world headquarters at Globe Life Park. Doerre most recently served since 2016 as Executive Vice President, General Counsel and Chief Compliance Officer for JELD-WEN (JELD). | ||||
| Over a month ago | ||||
Industrial Select… Industrial Select Conference 2020 will be held in Miami on February 19-20. | ||||
Industrial Select… Industrial Select Conference 2020 will be held in Miami on February 19-20. | ||||
Jefferies analyst Philip… Jefferies analyst Philip Ng lowered the firm's price target on Jeld-Wen to $28 from $29, but keeps a Buy rating on the shares and argues that the 12% selloff following earnings was overdone. While the ongoing operational issues in windows are admittedly frustrating, the pricing story is "unfolding better than we anticipated" and he sees upside to the company's guidance, Ng tells investors. | ||||
Jeld-Wen is down -11.3%,… Jeld-Wen is down -11.3%, or -$2.85 to $22.41. | |
Sees FY20 net revenue… Sees FY20 net revenue growth 1%-4%; and projected capital expenditures $135M-$155M. "I remain confident in our long-term 15% adjusted EBITDA margin target and believe that 2020 will be an inflection point in demonstrating significant progress towards this goal," said the company. "As our free cash flow continues to improve, we will make disciplined investments, strategic acquisitions, and share repurchases, while also ensuring that we achieve sustained reduction in our net debt leverage ratio." | |
Reports Q4 revenue… Reports Q4 revenue $1.07B, consensus $1.05B. Q4 revenue was unfavorably impacted by sequential weakness in Australia residential new construction demand and foreign currency. "2019 was a pivotal year as we advanced deployment of the JELD-WEN Excellence Model, or JEM, across the enterprise and delivered positive productivity, even as we faced significant market headwinds in residential new construction demand in our North America and Australasia segments," said the company. "During the year, we made significant progress with our footprint rationalization and modernization program and launched innovative new products to drive future growth. Our 65% improvement in 2019 free cash flow demonstrates that JEM has enhanced our working capital efficiency and improved our quality of earnings. | |
Ahead of next week's… Ahead of next week's Q4 earnings releases, JPMorgan analyst Michael Rehaut reiterates his preference for Overweight-rated Masonite (DOOR) to Neutral-rated Jeld-Wen (JELD). Recent survey work and monitoring of online Home Depot (HD) prices point to a largely successful effort by Masonite on its 15% average price increase for North America, effective February 3, Rehaut tells investors in a research note. As a result of increased confidence in the success of the company's price increase, the analyst believes "solid upside potential" exists to his 2020 EBITDA estimates for Masonite. Jeld-Wen, by contrast, has less upside potential given its seemingly smaller price increase and lower exposure to the North American door industry overall, says the analyst. Rehaut raised his price target for Masonite to $90 from $84 and keeps a $24.50 price target on Jeld-Wen. | |
Benchmark analyst Reuben… Benchmark analyst Reuben Garner initiated coverage of Jeld-Wen with a Buy rating and $32 price target. He sees several company-specific drivers, including a pricing story in the doors space and internal cost savings initiatives, that he believes the market is underappreciating, Garner tells investors. |