James Hardie Industries (NYSE:JHX) Lowered to “Hold” Rating by StockNews.com

James Hardie Industries (NYSE:JHX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Other equities research analysts have also issued research reports about the company. Truist Financial initiated coverage on James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.25.

James Hardie Industries Trading Up 1.0 %

NYSE JHX opened at $31.87 on Wednesday. The firm has a market cap of $13.70 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 4.35 and a beta of 1.77. 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 company has a 50 day moving average price of $34.28 and a 200 day moving average price of $34.61.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. The firm had revenue of $960.80 million during the quarter, compared to analyst estimates of $973.49 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that James Hardie Industries will post 1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of James Hardie Industries by 46.3% in the third quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock worth $55,000 after acquiring an additional 432 shares during the period. Huntington National Bank purchased a new stake in James Hardie Industries in the third quarter valued at $55,000. Pinpoint Asset Management Ltd acquired a new stake in James Hardie Industries during the 3rd quarter worth about $64,000. Wilmington Savings Fund Society FSB purchased a new position in shares of James Hardie Industries during the 3rd quarter valued at about $71,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of James Hardie Industries during the 2nd quarter valued at about $66,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

About James Hardie Industries

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.