James Hardie Industries (NYSE:JHX) Stock Rating Upgraded by Stephens

James Hardie Industries (NYSE:JHX) was upgraded by investment analysts at Stephens to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Barclays dropped their target price on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Zacks Research lowered shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.56.

James Hardie Industries Price Performance

NYSE:JHX opened at $26.67 on Thursday. James Hardie Industries has a one year low of $16.46 and a one year high of $29.83. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 121.22 and a beta of 1.80. The firm’s fifty day moving average is $22.31 and its two-hundred day moving average is $21.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.58.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 44.5% compared to the same quarter last year. Research analysts expect that James Hardie Industries will post 1.24 EPS for the current year.

Hedge Funds Weigh In On James Hardie Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JHX. Parallel Advisors LLC raised its stake in James Hardie Industries by 46.5% during the first quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock valued at $86,000 after buying an additional 1,439 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of James Hardie Industries by 19.8% during the first quarter. Segall Bryant & Hamill LLC now owns 420,152 shares of the construction company’s stock valued at $7,958,000 after buying an additional 69,449 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of James Hardie Industries by 81.6% during the first quarter. Bank of America Corp DE now owns 1,512,821 shares of the construction company’s stock valued at $28,653,000 after buying an additional 679,728 shares in the last quarter. RDST Capital LLC raised its position in James Hardie Industries by 20.2% during the first quarter. RDST Capital LLC now owns 3,238,117 shares of the construction company’s stock valued at $61,330,000 after buying an additional 544,500 shares during the period. Finally, Maverick Capital Ltd. purchased a new stake in James Hardie Industries in the 1st quarter worth about $673,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

About James Hardie Industries

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.