Why JELD-WEN (JELD) Stock Is Down Today

Core Insights - JELD-WEN's shares fell 5.9% following a significant drop in revenue and a price target reduction by an analyst [1] - The company reported quarterly revenue of $809 million, a 10% decline year-over-year, indicating deteriorating market demand, especially in North America [1][4] - An 11% reduction in the North American and corporate workforce was implemented in response to challenging market conditions [1] - Barclays analyst Matthew Bouley lowered the price target from $5.00 to $3.00 while maintaining an 'Equal-Weight' rating [1] Financial Performance - JELD-WEN's revenue for the quarter was $809.5 million, representing a 13.4% year-over-year decline, which fell short of analyst expectations [4] - The company reported an adjusted loss of $0.20 per share, a significant miss compared to analyst estimates and a decline from a profit of $0.32 per share a year ago [4] - Full-year revenue forecast was slashed by 4.5% to a midpoint of $3.15 billion, with EBITDA guidance below Wall Street estimates [4] Stock Performance - JELD-WEN's stock has decreased by 67.5% since the beginning of the year and is trading 76.8% below its 52-week high of $11.30 [5] - The stock has experienced extreme volatility, with 41 moves greater than 5% over the last year, indicating that the market views recent news as significant but not fundamentally altering its perception of the business [3]