James Hardie Industries (NYSE:JHX) Stock Price Expected to Rise, Oppenheimer Analyst Says

James Hardie Industries (NYSE:JHX) had its price objective upped by stock analysts at Oppenheimer from $28.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target would indicate a potential upside of 68.46% from the company’s previous close.

A number of other research analysts also recently weighed in on JHX. Citigroup upgraded James Hardie Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 4th. Macquarie raised James Hardie Industries from a “neutral” rating to an “outperform” rating in a report on Monday, July 28th. CLSA raised shares of James Hardie Industries to a “hold” rating in a research note on Wednesday, October 8th. Truist Financial upped their price target on shares of James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.42.

James Hardie Industries Stock Down 0.1%

NYSE:JHX traded down $0.02 on Wednesday, hitting $17.81. 2,765,845 shares of the company’s stock were exchanged, compared to its average volume of 4,901,823. The firm has a 50-day moving average price of $19.92 and a 200-day moving average price of $23.32. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.76 and a quick ratio of 3.31. James Hardie Industries has a 52 week low of $16.46 and a 52 week high of $37.65. The company has a market cap of $7.65 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 14.34 and a beta of 1.82.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. James Hardie Industries had a return on equity of 27.95% and a net margin of 8.75%.James Hardie Industries’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, analysts expect that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of hedge funds have recently modified their holdings of JHX. TD Private Client Wealth LLC boosted its holdings in shares of James Hardie Industries by 70.4% during the 2nd 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 period. Hantz Financial Services Inc. lifted 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 acquiring an additional 1,058 shares during the last quarter. MAI Capital Management boosted its holdings in shares of 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 worth $35,000 after acquiring an additional 1,280 shares during the period. Northwestern Mutual Wealth Management Co. grew 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 last quarter. Finally, AlphaCore Capital LLC bought a new position in shares of James Hardie Industries during the second quarter worth approximately $52,000. Institutional investors and hedge funds 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.