StockNews.com Downgrades James Hardie Industries (NYSE:JHX) to Hold

James Hardie Industries (NYSE:JHX - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Saturday.

Other equities research analysts have also issued research reports about the stock. Truist Financial started coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They issued a "buy" rating and a $45.00 target price for the company. Jefferies Financial Group reissued a "buy" rating on shares of James Hardie Industries in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, James Hardie Industries has a consensus rating of "Moderate Buy" and an average target price of $45.00.

James Hardie Industries Trading Up 0.5 %

JHX stock traded up $0.16 during midday trading on Friday, reaching $32.12. 62,904 shares of the company traded hands, compared to its average volume of 89,064. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 6.16 and a beta of 1.84. James Hardie Industries has a 52-week low of $29.88 and a 52-week high of $43.57. The business has a 50 day moving average of $32.43 and a 200-day moving average of $34.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.18.

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

Hedge Funds Weigh In On James Hardie Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp purchased a new position in shares of James Hardie Industries during the third quarter valued at $293,000. Cerity Partners LLC increased its position in James Hardie Industries by 58.8% during the 3rd quarter. Cerity Partners LLC now owns 37,771 shares of the construction company's stock valued at $1,517,000 after purchasing an additional 13,981 shares during the period. FMR LLC raised its holdings in shares of James Hardie Industries by 22.5% in the 3rd quarter. FMR LLC now owns 160,273 shares of the construction company's stock valued at $6,435,000 after purchasing an additional 29,401 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of James Hardie Industries by 317.2% in the 3rd quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company's stock worth $6,924,000 after purchasing an additional 131,120 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its position in shares of James Hardie Industries by 145.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 29,150 shares of the construction company's stock worth $1,170,000 after purchasing an additional 17,290 shares during the period. 7.96% of the stock is currently owned by institutional investors.

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.