James Hardie Industries (NYSE:JHX) Raised to “Buy” at StockNews.com

James Hardie Industries (NYSE:JHX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other research analysts also recently commented on the stock. 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. Truist Financial assumed coverage on James Hardie Industries in a report on Tuesday, December 10th. They set a “buy” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.25.

James Hardie Industries Trading Up 0.4 %

Shares of NYSE JHX traded up $0.12 on Tuesday, reaching $33.69. 80,317 shares of the company traded hands, compared to its average volume of 75,245. James Hardie Industries has a fifty-two week low of $29.88 and a fifty-two week high of $43.57. The company has a 50 day moving average of $34.74 and a 200 day moving average of $34.58. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $14.47 billion, a PE ratio of 33.36, a P/E/G ratio of 4.35 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The company had revenue of $960.80 million during the quarter, compared to the consensus estimate of $973.49 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that James Hardie Industries will post 1.47 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of institutional investors have recently modified their holdings of JHX. Blue Trust Inc. boosted its holdings in James Hardie Industries by 55.7% in the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after acquiring an additional 374 shares during the period. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 432 shares during the period. Huntington National Bank purchased a new position in James Hardie Industries in the 3rd quarter worth approximately $55,000. Pinpoint Asset Management Ltd purchased a new position in James Hardie Industries in the 3rd quarter worth approximately $64,000. Finally, Cubist Systematic Strategies LLC purchased a new position in James Hardie Industries in the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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.