James Hardie Industries (NYSE:JHX) Upgraded to “Strong-Buy” at Zacks Research

James Hardie Industries (NYSE:JHX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on JHX. Wolfe Research assumed coverage on shares of James Hardie Industries in a research report on Tuesday, September 30th. They issued an “outperform” rating and a $25.00 target price for the company. Robert W. Baird lowered their price objective on shares of James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Barclays started coverage on James Hardie Industries in a research note on Monday, December 8th. They set an “equal weight” rating and a $21.00 target price for the company. CLSA upgraded James Hardie Industries to a “hold” rating in a research note on Wednesday, October 8th. Finally, Truist Financial upped their price objective on James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.93.

James Hardie Industries Price Performance

Shares of NYSE JHX opened at $23.22 on Monday. The business has a fifty day moving average price of $20.32 and a two-hundred day moving average price of $21.87. The stock has a market capitalization of $9.98 billion, a PE ratio of 48.36, a P/E/G ratio of 7.61 and a beta of 1.80. 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 fifty-two week low of $16.46 and a fifty-two week high of $34.96.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Monday, November 17th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.James Hardie Industries’s revenue was up 34.5% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. As a group, equities analysts predict 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 institutional investors and hedge funds have recently bought and sold shares of JHX. Royal Bank of Canada raised its position in James Hardie Industries by 17.0% during the 1st quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock worth $1,197,000 after purchasing an additional 7,396 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of James Hardie Industries by 160.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after acquiring an additional 1,662,743 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of James Hardie Industries by 222.4% in the first quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock worth $6,573,000 after acquiring an additional 192,478 shares during the period. Rhumbline Advisers boosted its holdings in James Hardie Industries by 10.3% in the first quarter. Rhumbline Advisers now owns 10,694 shares of the construction company’s stock valued at $252,000 after acquiring an additional 999 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in James Hardie Industries during the 2nd quarter valued at approximately $281,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Company Profile

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.