StockNews.com Downgrades James Hardie Industries (NYSE:JHX) to Hold

StockNews.com downgraded shares of James Hardie Industries (NYSE:JHX) from a buy rating to a hold rating in a report released on Saturday.

JHX has been the subject of a number of other reports. Truist Financial started coverage on James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target for the company. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

James Hardie Industries Stock Performance

Shares of JHX stock opened at $32.12 on Friday. The stock has a fifty day moving average price of $32.43 and a 200 day moving average price of $34.37. The stock has a market cap of $13.80 billion, a PE ratio of 31.80, a P/E/G ratio of 6.16 and a beta of 1.84. James Hardie Industries has a 1 year low of $29.88 and a 1 year high of $43.57. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.18.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share 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 company had revenue of $953.30 million during the quarter, compared to analysts’ expectations of $967.63 million. Sell-side analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc purchased a new stake in shares of James Hardie Industries in the fourth quarter valued at $25,000. R Squared Ltd purchased a new stake in shares of James Hardie Industries in the fourth quarter valued at $27,000. TD Private Client Wealth LLC grew its position in shares of James Hardie Industries by 45.3% in the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock valued at $30,000 after purchasing an additional 303 shares during the period. Huntington National Bank purchased a new stake in shares of James Hardie Industries in the third quarter valued at $55,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of James Hardie Industries in the third quarter valued at $64,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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.