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

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

JHX has been the subject of a number of other reports. Jefferies Financial Group restated a "buy" rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Truist Financial initiated coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They set a "buy" rating and a $45.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.00.

James Hardie Industries Stock Down 2.1 %

NYSE:JHX traded down $0.50 during trading hours on Friday, reaching $23.75. The company's stock had a trading volume of 5,184,996 shares, compared to its average volume of 121,520. 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 company has a market cap of $10.21 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 6.16 and a beta of 1.84. James Hardie Industries has a one year low of $23.31 and a one year high of $43.57. The business's 50-day moving average is $32.18 and its 200-day moving average is $33.82.

Remove Ads

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 (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The company had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. Equities research analysts predict that James Hardie Industries will post 1.39 EPS for the current year.

Institutional Trading of James Hardie Industries

Hedge funds have recently bought and sold shares of the stock. Forum Financial Management LP lifted its stake in shares of James Hardie Industries by 63.6% in the fourth quarter. Forum Financial Management LP now owns 8,694 shares of the construction company's stock valued at $268,000 after buying an additional 3,381 shares during the period. GTS Securities LLC acquired a new position in shares of James Hardie Industries in the fourth quarter valued at $401,000. Quantinno Capital Management LP raised its stake in shares of James Hardie Industries by 9.1% in the fourth quarter. Quantinno Capital Management LP now owns 63,915 shares of the construction company's stock valued at $1,969,000 after purchasing an additional 5,339 shares in the last quarter. Millennium Management LLC lifted its position in James Hardie Industries by 14.8% in the fourth quarter. Millennium Management LLC now owns 19,561 shares of the construction company's stock worth $603,000 after purchasing an additional 2,524 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of James Hardie Industries by 20.0% during the 4th quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company's stock valued at $29,718,000 after acquiring an additional 161,059 shares in the last quarter. 7.96% of the stock is 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.