James Hardie Industries (NYSE:JHX) Upgraded at Bank of America

Bank of America upgraded shares of James Hardie Industries (NYSE:JHX - Free Report) from an underperform rating to a buy rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. Bank of America currently has $27.35 price objective on the construction company's stock, down from their prior price objective of $27.40.

A number of other research firms have also recently commented on JHX. Morgan Stanley raised James Hardie Industries from an "equal weight" rating to an "overweight" rating in a report on Monday, March 24th. Macquarie downgraded shares of James Hardie Industries from an "outperform" rating to a "neutral" rating in a report on Monday, March 24th. Jefferies Financial Group restated a "buy" rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Truist Financial started coverage on James Hardie Industries in a research report on Tuesday, December 10th. They issued a "buy" rating and a $45.00 target price on the stock. Finally, StockNews.com upgraded James Hardie Industries from a "hold" rating to a "buy" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.45.

Remove Ads

James Hardie Industries Stock Performance

Shares of JHX traded down $0.40 on Thursday, reaching $24.24. The company's stock had a trading volume of 3,495,117 shares, compared to its average volume of 219,669. The stock's 50 day simple moving average is $31.61 and its two-hundred day simple moving average is $33.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50. The stock has a market capitalization of $10.42 billion, a P/E ratio of 24.00, a PEG ratio of 6.16 and a beta of 1.84. James Hardie Industries has a 12-month low of $23.23 and a 12-month high of $43.57.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. The firm had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. Research analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of institutional investors have recently bought and sold shares of JHX. Versant Capital Management Inc purchased a new stake in shares of James Hardie Industries in the fourth quarter valued at $25,000. R Squared Ltd purchased a new stake in James Hardie Industries in the 4th quarter worth about $27,000. TD Private Client Wealth LLC lifted its stake in James Hardie Industries by 45.3% in the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company's stock worth $30,000 after purchasing an additional 303 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new position in shares of James Hardie Industries during the third quarter valued at approximately $64,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of James Hardie Industries during the third quarter valued at approximately $71,000. 7.96% of the stock is currently owned by 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.