James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume - Here's What Happened

James Hardie Industries plc (NYSE:JHX - Get Free Report) shares saw strong trading volume on Monday . 408,989 shares traded hands during trading, an increase of 85% from the previous session's volume of 221,279 shares.The stock last traded at $23.61 and had previously closed at $24.25.

Analysts Set New Price Targets

JHX has been the topic of several recent analyst reports. Morgan Stanley raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a report on Monday, March 24th. Raymond James set a $55.00 price target on shares of James Hardie Industries in a research report on Monday, March 24th. Bank of America raised James Hardie Industries from an "underperform" rating to a "buy" rating and lowered their price objective for the company from $27.40 to $27.35 in a report on Thursday, March 27th. StockNews.com raised James Hardie Industries from a "hold" rating to a "buy" rating in a report on Friday, March 21st. Finally, Truist Financial set a $45.00 target price on James Hardie Industries in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.45.

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James Hardie Industries Stock Performance

The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 6.16 and a beta of 1.80. The stock has a 50 day simple moving average of $30.74 and a 200 day simple moving average of $33.25. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52.

James Hardie Industries (NYSE:JHX - Get Free Report) last released 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. The business had revenue of $953.30 million during 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, analysts anticipate that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc bought a new stake in shares of James Hardie Industries during the fourth quarter valued at approximately $25,000. R Squared Ltd bought a new stake in James Hardie Industries during the 4th quarter valued at $27,000. TD Private Client Wealth LLC boosted its position in James Hardie Industries by 45.3% during the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company's stock worth $30,000 after acquiring an additional 303 shares during the period. Aquatic Capital Management LLC bought a new position in shares of James Hardie Industries in the fourth quarter worth $55,000. Finally, Huntington National Bank increased its holdings in shares of James Hardie Industries by 64.7% during the fourth quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock valued at $70,000 after purchasing an additional 888 shares during the period. 7.96% of the stock is owned by institutional investors and hedge funds.

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.