James Hardie Industries (NYSE:JHX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of James Hardie Industries (NYSE:JHX) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

A number of other equities research analysts have also weighed in on the stock. Truist Financial assumed coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

James Hardie Industries Stock Up 0.4 %

Shares of NYSE JHX opened at $33.69 on Tuesday. James Hardie Industries has a 52-week low of $29.88 and a 52-week high of $43.57. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $34.74 and its two-hundred day moving average is $34.58. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 4.35 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Tuesday, November 12th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The business had revenue of $960.80 million for the quarter, compared to analysts’ expectations of $973.49 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Research analysts predict that James Hardie Industries will post 1.47 EPS for the current year.

Institutional Investors Weigh In On James Hardie Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its position in shares of James Hardie Industries by 4.4% in the third quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock valued at $315,000 after purchasing an additional 359 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in James Hardie Industries in the 3rd quarter valued at about $71,000. Sanctuary Advisors LLC acquired a new stake in shares of James Hardie Industries during the 3rd quarter worth about $708,000. M&T Bank Corp purchased a new stake in shares of James Hardie Industries during the third quarter worth about $293,000. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of James Hardie Industries by 145.8% during the third quarter. Orion Portfolio Solutions LLC now owns 29,150 shares of the construction company’s stock valued at $1,170,000 after buying an additional 17,290 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.