James Hardie Industries PLC. (NYSE:JHX) Stock Short Interest Jumps 47.8%

James Hardie Industries PLC. (NYSE:JHX) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 15,189,864 shares, a growth of 47.8% from the August 31st total of 10,276,477 shares. Based on an average daily trading volume, of 8,630,189 shares, the short-interest ratio is presently 1.8 days. Currently, 2.6% of the shares of the company are sold short.

James Hardie Industries Price Performance

James Hardie Industries stock traded down $0.15 during trading on Thursday, reaching $25.16. The company had a trading volume of 6,699,735 shares, compared to its average volume of 13,744,370. The firm’s 50-day simple moving average is $28.35 and its 200 day simple moving average is $24.37. James Hardie Industries has a 1-year low of $16.46 and a 1-year high of $31.43. The firm has a market capitalization of $14.60 billion, a PE ratio of 100.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The firm’s revenue was up 63.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. As a group, equities research analysts anticipate that James Hardie Industries will post 1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JHX has been the subject of a number of recent analyst reports. Loop Capital initiated coverage on shares of James Hardie Industries in a report on Monday, September 14th. They issued a “buy” rating and a $35.00 price objective for the company. UBS Group reissued a “buy” rating on shares of James Hardie Industries in a research note on Wednesday, September 16th. Zacks Research upgraded James Hardie Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Citigroup lowered James Hardie Industries from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Truist Financial lifted their price target on James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.75.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new position in James Hardie Industries in the 2nd quarter valued at about $47,651,000. Renaissance Technologies LLC raised its holdings in shares of James Hardie Industries by 48.5% during the first quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock valued at $72,720,000 after acquiring an additional 1,254,400 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of James Hardie Industries by 12.3% during the second quarter. Alyeska Investment Group L.P. now owns 8,737,905 shares of the construction company’s stock valued at $228,758,000 after acquiring an additional 954,317 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of James Hardie Industries by 105.3% in the fourth quarter. Natixis Advisors LLC now owns 1,831,396 shares of the construction company’s stock valued at $38,001,000 after acquiring an additional 939,248 shares in the last quarter. Finally, Senator Investment Group LP boosted its stake in shares of James Hardie Industries by 99.8% in the fourth quarter. Senator Investment Group LP now owns 1,825,797 shares of the construction company’s stock worth $37,885,000 after acquiring an additional 911,860 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc is a building materials company that manufactures and markets fiber cement and fiber gypsum products. Its products are used primarily in residential and commercial construction, including exterior siding, trim, soffits, backer board, and interior wall and flooring applications.

The company sells products under brands that include Hardie, HardiePlank, HardiePanel, and HardieBacker. Its fiber cement products are designed to provide durability and resistance to moisture, fire, pests, and weathering, serving builders, contractors, architects, and homeowners.

James Hardie traces its origins to Australia in the late 19th century and has since expanded into an international building products company.