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

StockNews.com lowered shares of James Hardie Industries (NYSE:JHX - Free Report) from a buy rating to a hold rating in a report issued on Wednesday.

Several other analysts have also recently commented on the company. Truist Financial started coverage on James Hardie Industries in a report on Tuesday, December 10th. They issued a "buy" rating and a $45.00 price target for the company. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a "neutral" rating to an "overweight" rating in a report 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $40.25.

James Hardie Industries Trading Up 1.0 %

Shares of JHX traded up $0.30 on Wednesday, hitting $31.87. 35,206 shares of the stock traded hands, compared to its average volume of 75,826. James Hardie Industries has a 1 year low of $29.88 and a 1 year high of $43.57. The stock's 50 day moving average is $34.19 and its two-hundred day moving average is $34.59. The firm has a market capitalization of $13.70 billion, a P/E ratio of 31.55, a P/E/G ratio of 4.35 and a beta of 1.77. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.57.

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

Hedge Funds Weigh In On James Hardie Industries

Several hedge funds and other institutional investors have recently modified their holdings of JHX. Sequoia Financial Advisors LLC lifted its position in James Hardie Industries by 2.6% during the third quarter. Sequoia Financial Advisors LLC now owns 12,494 shares of the construction company's stock valued at $502,000 after buying an additional 318 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of James Hardie Industries by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company's stock valued at $315,000 after acquiring an additional 359 shares in the last quarter. Bank of New York Mellon Corp boosted its position in James Hardie Industries by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,630 shares of the construction company's stock worth $1,029,000 after purchasing an additional 375 shares during the period. GAMMA Investing LLC increased its holdings in James Hardie Industries by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company's stock valued at $55,000 after purchasing an additional 432 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in James Hardie Industries by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company's stock valued at $2,223,000 after purchasing an additional 534 shares during the period. 7.96% of the stock is owned by institutional investors and hedge funds.

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.