James Hardie Industries (NYSE:JHX) Shares Gap Up on Earnings Beat

Shares of James Hardie Industries plc (NYSE:JHX) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $31.79, but opened at $34.68. James Hardie Industries shares last traded at $35.06, with a volume of 24,234 shares trading hands.

The construction company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $960.80 million for the quarter, compared to analysts’ expectations of $973.49 million. James Hardie Industries had a return on equity of 36.30% and a net margin of 11.16%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS.

Analysts Set New Price Targets

JHX has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. StockNews.com downgraded shares of James Hardie Industries from a “buy” rating to a “hold” rating in a report on Tuesday.

Institutional Investors Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA acquired a new stake in shares of James Hardie Industries during the third quarter worth $242,000. Townsquare Capital LLC acquired a new position in James Hardie Industries during the third quarter valued at $227,000. FMR LLC raised its position in shares of James Hardie Industries by 22.5% in the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock worth $6,435,000 after acquiring an additional 29,401 shares during the period. Cerity Partners LLC raised its position in shares of James Hardie Industries by 58.8% in the third quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock worth $1,517,000 after acquiring an additional 13,981 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of James Hardie Industries by 67.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 51,074 shares of the construction company’s stock worth $2,051,000 after acquiring an additional 20,496 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Stock Up 8.9 %

The firm has a market cap of $14.86 billion, a PE ratio of 34.27, a PEG ratio of 3.64 and a beta of 1.76. The business’s 50 day moving average price is $35.70 and its 200 day moving average price is $34.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.94 and a quick ratio of 1.44.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.