Short Interest in James Hardie Industries plc (NYSE:JHX) Rises By 428.5%

James Hardie Industries plc (NYSE:JHX) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 172,300 shares, a growth of 428.5% from the November 15th total of 32,600 shares. Based on an average daily trading volume, of 107,200 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JHX shares. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. StockNews.com cut shares of James Hardie Industries from a “buy” rating to a “hold” rating in a report on Monday. Finally, Truist Financial began coverage on shares of James Hardie Industries in a research note on Tuesday. They issued a “buy” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.25.

James Hardie Industries Stock Performance

Shares of James Hardie Industries stock traded down $0.15 during trading hours on Wednesday, hitting $34.60. 68,527 shares of the company’s stock traded hands, compared to its average volume of 74,406. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 34.45, 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 company has a debt-to-equity ratio of 0.57, a current ratio of 2.02 and a quick ratio of 1.50. The company has a fifty day simple moving average of $35.10 and a 200-day simple moving average of $34.48.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $960.80 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. Equities research analysts anticipate that James Hardie Industries will post 1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

A number of hedge funds have recently modified their holdings of JHX. Cerity Partners LLC boosted its holdings in shares of James Hardie Industries by 58.8% in the third quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock worth $1,517,000 after acquiring an additional 13,981 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of James Hardie Industries in the third quarter worth about $2,369,000. Natixis Advisors LLC boosted its position in shares of James Hardie Industries by 317.2% in the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock valued at $6,924,000 after acquiring an additional 131,120 shares during the period. Crossmark Global Holdings Inc. grew its stake in James Hardie Industries by 83.9% during the third quarter. Crossmark Global Holdings Inc. now owns 51,996 shares of the construction company’s stock valued at $2,088,000 after acquiring an additional 23,723 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in James Hardie Industries during the 2nd quarter worth approximately $12,162,000. Institutional investors own 7.96% of the company’s stock.

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.