James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume After Analyst Upgrade

James Hardie Industries PLC. (NYSE:JHX) saw an uptick in trading volume on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. 7,348,579 shares changed hands during trading, an increase of 22% from the previous session’s volume of 6,026,653 shares.The stock last traded at $23.1550 and had previously closed at $23.66.

JHX has been the topic of a number of other research reports. Oppenheimer lifted their target price on James Hardie Industries from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Barclays began coverage on shares of James Hardie Industries in a research report on Monday, December 8th. They set an “equal weight” rating and a $21.00 target price for the company. Robert W. Baird reduced their price target on shares of James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. CLSA raised shares of James Hardie Industries to a “hold” rating in a research report on Wednesday, October 8th. Finally, Vertical Research raised shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.93.

Hedge Funds Weigh In On James Hardie Industries

A number of hedge funds have recently added to or reduced their stakes in JHX. Yousif Capital Management LLC bought a new stake in James Hardie Industries in the fourth quarter valued at $184,000. Flagship Harbor Advisors LLC lifted its position in James Hardie Industries by 41.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 19,788 shares of the construction company’s stock valued at $411,000 after purchasing an additional 5,837 shares during the last quarter. SG Americas Securities LLC boosted its stake in James Hardie Industries by 819.2% during the 4th quarter. SG Americas Securities LLC now owns 630,106 shares of the construction company’s stock valued at $13,075,000 after purchasing an additional 561,556 shares during the period. Green Alpha Advisors LLC bought a new position in James Hardie Industries in the 4th quarter worth about $464,000. Finally, Hilltop National Bank acquired a new stake in shares of James Hardie Industries in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.79 and a quick ratio of 1.23. The stock has a fifty day moving average price of $20.62 and a two-hundred day moving average price of $21.91. The company has a market cap of $10.55 billion, a P/E ratio of 51.13, a PEG ratio of 7.68 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. James Hardie Industries had a net margin of 4.67% and a return on equity of 18.40%. The company’s revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. On average, equities analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

James Hardie Industries Company Profile

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.