James Hardie Industries PLC. (NYSE:JHX) Receives $26.71 Average PT from Analysts

Shares of James Hardie Industries PLC. (NYSE:JHX) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.7056.

JHX has been the subject of several recent research reports. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Robert W. Baird reduced their price objective on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Zacks Research lowered James Hardie Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Vertical Research raised James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, November 19th. Finally, Truist Financial upped their price target on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th.

James Hardie Industries Stock Down 1.2%

Shares of JHX opened at $20.60 on Monday. The company’s 50-day simple moving average is $23.45 and its 200-day simple moving average is $21.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54. James Hardie Industries has a 1 year low of $16.46 and a 1 year high of $32.69. The stock has a market capitalization of $8.86 billion, a PE ratio of 76.31, a P/E/G ratio of 4.65 and a beta of 1.78.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, February 10th. The construction company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. James Hardie Industries had a net margin of 2.70% and a return on equity of 13.52%. During the same period in the previous year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. Analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in James Hardie Industries by 259.7% in the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after acquiring an additional 36,567,726 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of James Hardie Industries by 241.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock valued at $341,989,000 after purchasing an additional 8,988,938 shares during the last quarter. Phoenix Financial Ltd. purchased a new stake in shares of James Hardie Industries in the 3rd quarter valued at approximately $105,839,000. Capital World Investors acquired a new stake in shares of James Hardie Industries in the 3rd quarter valued at $86,121,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of James Hardie Industries during the 4th quarter worth $77,530,000. 7.96% of the stock is currently owned by hedge funds and other 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.