James Hardie Industries (NYSE:JHX) Sets New 1-Year Low – Time to Sell?

James Hardie Industries plc (NYSE:JHX)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $23.23 and last traded at $23.48, with a volume of 1038150 shares. The stock had previously closed at $23.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Bank of America upgraded James Hardie Industries from an “underperform” rating to a “buy” rating and lowered their target price for the stock from $27.40 to $27.35 in a report on Thursday. Truist Financial began coverage on James Hardie Industries in a research report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target for the company. Macquarie downgraded James Hardie Industries from an “outperform” rating to a “neutral” rating in a research report on Monday. Finally, Raymond James set a $55.00 target price on James Hardie Industries in a report on Monday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.45.

James Hardie Industries Stock Down 1.6 %

The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $10.42 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 6.16 and a beta of 1.84. The firm has a 50-day moving average of $31.80 and a two-hundred day moving average of $33.68.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. Equities research analysts predict that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new stake in James Hardie Industries in the fourth quarter valued at approximately $25,000. R Squared Ltd acquired a new position in James Hardie Industries during the 4th quarter worth about $27,000. TD Private Client Wealth LLC lifted its stake in James Hardie Industries by 45.3% during 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 in the last quarter. Aquatic Capital Management LLC purchased a new position in James Hardie Industries during the 4th quarter valued at about $55,000. Finally, Pinpoint Asset Management Ltd acquired a new position in James Hardie Industries in the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors 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.