Janus downgraded to Hold at Jefferies on post-pandemic slump

seekingalpha11-05

stockage/iStock via Getty Images Janus International Group (NYSE:JBI) on Monday was downgraded to Hold from a previous investment rating of Buy among analysts at financial-services firm Jefferies. ...

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They said the maker of products for the self-storage industry is experiencing lower demand as the disruptions of the Covid-19 pandemic fade. “Janus  over-earned during Covid and we now see profitability re-basing much lower than we anticipated,” Philip Ng, analyst at Jefferies, said in a November 4 report. “Visibility is low with Janus  slashing its guidance in back-to-back quarters, with the company seeing project delays and its non-institutional customers have been under pressure.” Self-storage services experienced increased demand during the onset of the pandemic as many people moved out of crowded cities and needed a place to keep their possessions temporarily. Jefferies lowered its price target on Janus  to $7.50 a share from $12 a share previously, based on an estimated enterprise value that’s 10","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"JBI":"Janus International Group"},"translate_title":"杰富瑞(Jefferies)将骏利(Janus)评级下调至持有","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JBI":0.9},"content_text":"stockage/iStock via Getty Images Janus International Group (NYSE:JBI) on Monday was downgraded to Hold from a previous investment rating of Buy among analysts at financial-services firm Jefferies. They said the maker of products for the self-storage industry is experiencing lower demand as the disruptions of the Covid-19 pandemic fade. “Janus (JBI) over-earned during Covid and we now see profitability re-basing much lower than we anticipated,” Philip Ng, analyst at Jefferies, said in a November 4 report. “Visibility is low with Janus (JBI) slashing its guidance in back-to-back quarters, with the company seeing project delays and its non-institutional customers have been under pressure.” Self-storage services experienced increased demand during the onset of the pandemic as many people moved out of crowded cities and needed a place to keep their possessions temporarily. Jefferies lowered its price target on Janus (JBI) to $7.50 a share from $12 a share previously, based on an estimated enterprise value that’s 10 times earnings before interest, taxes, depreciation and amortization for 2025. 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