James Hardie Industries (NYSE:JHX) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of James Hardie Industries (NYSE:JHX) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on JHX. Raymond James Financial set a $21.00 price target on shares of James Hardie Industries in a research report on Monday, December 8th. Barclays started coverage on shares of James Hardie Industries in a research note on Monday, December 8th. They issued an “equal weight” rating and a $21.00 price objective on the stock. Truist Financial increased their target price on shares of James Hardie Industries from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 19th. Finally, Wolfe Research initiated coverage on James Hardie Industries in a report on Tuesday, September 30th. They issued an “outperform” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.93.

James Hardie Industries Stock Performance

James Hardie Industries stock opened at $23.22 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.79 and a quick ratio of 1.23. James Hardie Industries has a 12 month low of $16.46 and a 12 month high of $34.96. The company has a fifty day moving average price of $20.32 and a two-hundred day moving average price of $21.87. The company has a market cap of $9.98 billion, a PE ratio of 48.36, a P/E/G ratio of 7.61 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Monday, November 17th. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s revenue was up 34.5% compared to the same quarter last year. Research analysts expect that James Hardie Industries will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors have recently bought and sold shares of the stock. TD Private Client Wealth LLC lifted its position in shares of James Hardie Industries by 70.4% in the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock worth $30,000 after buying an additional 455 shares during the last quarter. Hantz Financial Services Inc. boosted its position in James Hardie Industries by 641.2% during the second quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock worth $33,000 after purchasing an additional 1,058 shares during the period. MAI Capital Management grew its holdings in James Hardie Industries by 4,266.7% during the second quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock valued at $35,000 after purchasing an additional 1,280 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,461 shares during the period. Finally, Hilltop National Bank acquired a new stake in shares of James Hardie Industries in the fourth quarter worth $47,000. 7.96% of the stock is currently owned by 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.