Janus International Group, Inc. (NYSE: JBI) experienced a notable uptrend in its share price during after-hours trading on Tuesday, marking a significant increase of 17.21% to $17.50. This surge built upon the momentum established during the regular session, where the stock rose by 4.04%, ultimately closing at $14.93. The persistent upward trajectory of JBI shares throughout the day was predominantly influenced by analyst endorsements, as they commenced coverage of the stock’s performance.
On Tuesday, analyst firm Jefferies initiated coverage of Janus (JBI), assigning a favorable recommendation of “Buy” to the stock, and additionally establishing a 12-month price target of $20. This endorsement bolstered investor confidence, prompting a rise in JBI stock value on the US stock charts.
The favorable recommendation coincided with recent developments within the company, notably the introduction of a new product this month. Janus unveiled Nokē Ion, an advanced smart locking system designed for interior door installation, enhancing its esteemed Nokē Smart Entry product line.
Complementing the existing Nokē ONE external smart lock, Nokē Ion offers a sophisticated yet user-friendly solution for self-storage smart access applications. Noteworthy features of Nokē Ion include its sleek design, low-voltage power supply, and customizable options such as LED lighting and motion sensors.
Anticipated to streamline and expedite the adoption of smart locking solutions for self-storage operators, Nokē Ion signifies Janus’s unwavering dedication to pioneering advancements in facility automation within the self-storage sector.
With the introduction of Nokē Ion, Janus reaffirms its commitment to global innovation by extending cutting-edge technology to self-storage facilities worldwide. The Nokē Smart Entry System by Janus amalgamates premier self-storage offerings with innovative technologies, redefining the overall self-storage experience for operators and customers alike.
Additionally, S&P Global Ratings (“S&P”) recently upgraded Janus’ credit rating from “B” to “B+,” noting that the company’s low net leverage and resolution of all major vulnerabilities bode well for the future.
