StockNews.com Downgrades James Hardie Industries (NYSE:JHX) to Hold

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

A number of other brokerages have also recently issued reports on JHX. Truist Financial began coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price objective 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. Finally, Jefferies Financial Group restated a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

James Hardie Industries Stock Up 0.9 %

Shares of JHX opened at $31.76 on Friday. James Hardie Industries has a 12 month low of $29.88 and a 12 month high of $43.57. The firm’s 50 day moving average is $32.43 and its 200-day moving average is $34.41. The stock has a market capitalization of $13.65 billion, a PE ratio of 31.44, a P/E/G ratio of 6.16 and a beta of 1.81. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. The company had revenue of $953.30 million for the quarter, compared to analysts’ expectations of $967.63 million. Equities research analysts forecast that James Hardie Industries will post 1.39 EPS for the current year.

Institutional Trading of James Hardie Industries

A number of hedge funds have recently added to or reduced their stakes in JHX. Versant Capital Management Inc acquired a new stake in James Hardie Industries in the fourth quarter valued at approximately $25,000. R Squared Ltd acquired a new stake in James Hardie Industries in the fourth quarter valued at approximately $27,000. TD Private Client Wealth LLC lifted its holdings in shares of James Hardie Industries by 45.3% during the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock worth $30,000 after purchasing an additional 303 shares during the period. Huntington National Bank acquired a new position in shares of James Hardie Industries during the third quarter worth $55,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of James Hardie Industries during the fourth quarter worth $55,000. Institutional investors and hedge funds 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.