James Hardie Industries (NYSE:JHX) Shares Gap Down - What's Next?

James Hardie Industries plc (NYSE:JHX - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $37.04, but opened at $36.25. James Hardie Industries shares last traded at $36.38, with a volume of 329,484 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded James Hardie Industries from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th.

James Hardie Industries Trading Down 1.0 %

The business's 50-day simple moving average is $36.25 and its 200-day simple moving average is $34.90. The company has a current ratio of 1.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.57. The company has a market cap of $15.91 billion, a PE ratio of 32.02, a P/E/G ratio of 4.08 and a beta of 1.74.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its earnings results on Tuesday, August 13th. The construction company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $991.90 million for the quarter, compared to analyst estimates of $1.01 billion. James Hardie Industries had a return on equity of 38.01% and a net margin of 12.78%. The business's revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. As a group, analysts expect that James Hardie Industries plc will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in James Hardie Industries by 1.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,002,215 shares of the construction company's stock worth $38,756,000 after acquiring an additional 11,235 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in James Hardie Industries in the 2nd quarter valued at approximately $12,162,000. Jennison Associates LLC increased its position in James Hardie Industries by 186.0% in the 1st quarter. Jennison Associates LLC now owns 335,239 shares of the construction company's stock worth $13,564,000 after buying an additional 218,033 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of James Hardie Industries by 39.7% during the first quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company's stock worth $12,697,000 after buying an additional 89,165 shares during the last quarter. Finally, Creative Planning raised its stake in James Hardie Industries by 16.3% during the 3rd quarter. Creative Planning now owns 77,168 shares of the construction company's stock valued at $3,098,000 after purchasing an additional 10,803 shares during the last quarter. 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.