James Hardie Industries (NYSE:JHX) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of James Hardie Industries (NYSE:JHX - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $45.00 price target on the construction company's stock. Truist Financial's price objective indicates a potential upside of 29.35% from the company's current price.

A number of other equities research analysts have also recently weighed in on the stock. StockNews.com lowered James Hardie Industries from a "buy" rating to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. raised shares of James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $40.25.

James Hardie Industries Stock Performance

Shares of NYSE JHX traded down $0.56 during trading on Tuesday, reaching $34.79. 57,083 shares of the company traded hands, compared to its average volume of 74,427. The stock has a market cap of $14.94 billion, a P/E ratio of 35.00, a PEG ratio of 4.45 and a beta of 1.77. James Hardie Industries has a 12-month low of $29.88 and a 12-month high of $43.57. The firm's fifty day simple moving average is $35.18 and its 200 day simple moving average is $34.46. The company has a current ratio of 2.02, a quick ratio of 1.50 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 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $960.80 million during the quarter, compared to analyst estimates of $973.49 million. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, research analysts anticipate that James Hardie Industries will post 1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

A number of large investors have recently added to or reduced their stakes in JHX. Blue Trust Inc. grew its position in shares of James Hardie Industries by 55.7% in the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company's stock valued at $33,000 after purchasing an additional 374 shares during the period. GAMMA Investing LLC boosted its stake 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 worth $55,000 after buying an additional 432 shares during the last quarter. Huntington National Bank purchased a new stake in James Hardie Industries in the 3rd quarter valued at about $55,000. Pinpoint Asset Management Ltd acquired a new position in shares of James Hardie Industries during the 3rd quarter valued at about $64,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of James Hardie Industries during the 2nd quarter worth about $66,000. 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.