James Hardie Industries (NYSE:JHX) Hits New 52-Week Low – Here’s Why

James Hardie Industries plc (NYSE:JHX) shares hit a new 52-week low on Tuesday . The company traded as low as $22.91 and last traded at $23.17, with a volume of 52977 shares traded. The stock had previously closed at $23.56.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Macquarie downgraded shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a research report on Monday, March 24th. Truist Financial started coverage on 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. Bank of America raised shares of James Hardie Industries from an “underperform” rating to a “buy” rating and reduced their target price for the stock from $27.40 to $27.35 in a report on Thursday, March 27th. Morgan Stanley raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a report on Monday, March 24th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.45.

James Hardie Industries Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 6.16 and a beta of 1.84. The firm’s fifty day moving average is $31.41 and its 200-day moving average is $33.49.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JHX. TD Private Client Wealth LLC increased 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 valued at $30,000 after acquiring an additional 303 shares in the last quarter. Franklin Resources Inc. increased its stake in James Hardie Industries by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock valued at $315,000 after purchasing an additional 359 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in James Hardie Industries by 0.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 52,416 shares of the construction company’s stock worth $1,615,000 after buying an additional 420 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in James Hardie Industries by 2.5% during the fourth quarter. Sanctuary Advisors LLC now owns 18,074 shares of the construction company’s stock worth $616,000 after buying an additional 433 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of James Hardie Industries by 9.5% in the fourth quarter. Russell Investments Group Ltd. now owns 5,220 shares of the construction company’s stock valued at $161,000 after buying an additional 453 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

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.