James Hardie Industries (NYSE:JHX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of James Hardie Industries (NYSE:JHX) from a buy rating to a hold rating in a report published on Saturday morning.

Several other equities analysts also recently weighed in on JHX. Truist Financial began coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They set a “buy” rating and a $45.00 target price for the company. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.00.

James Hardie Industries Stock Performance

JHX opened at $31.78 on Friday. The stock’s 50 day simple moving average is $32.45 and its 200 day simple moving average is $34.35. The stock has a market cap of $13.66 billion, a P/E ratio of 31.47, a P/E/G ratio of 6.16 and a beta of 1.84. James Hardie Industries has a 1-year low of $29.88 and a 1-year high of $43.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The business had revenue of $953.30 million during the quarter, compared to analysts’ expectations of $967.63 million. As a group, equities analysts anticipate that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new position in shares of James Hardie Industries in the fourth quarter valued at approximately $25,000. R Squared Ltd purchased a new stake in James Hardie Industries in the 4th quarter worth approximately $27,000. TD Private Client Wealth LLC grew its stake in James Hardie Industries by 45.3% in 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. Huntington National Bank acquired a new position in James Hardie Industries in the 3rd quarter valued at $55,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of James Hardie Industries during the 4th quarter worth $55,000. 7.96% of the stock is currently owned by hedge funds and other 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.