James Hardie Industries (NYSE:JHX) Downgraded to Hold Rating by Zacks Research

James Hardie Industries (NYSE:JHX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Barclays increased their price target on James Hardie Industries from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 11th. Truist Financial boosted their price objective on James Hardie Industries from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Vertical Research upgraded James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 19th. Finally, Robert W. Baird decreased their target price on 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. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, James Hardie Industries has an average rating of “Moderate Buy” and a consensus target price of $26.71.

James Hardie Industries Stock Down 0.5%

JHX opened at $25.17 on Tuesday. James Hardie Industries has a twelve month low of $16.46 and a twelve month high of $32.99. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $22.67 and a 200-day moving average price of $21.51. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 93.20, a PEG ratio of 5.64 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Tuesday, February 10th. The construction company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.21 billion. James Hardie Industries had a return on equity of 13.52% and a net margin of 2.70%.James Hardie Industries’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities research analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On James Hardie Industries

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in James Hardie Industries by 17.0% in the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock valued at $1,197,000 after purchasing an additional 7,396 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of James Hardie Industries by 160.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after buying an additional 1,662,743 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of James Hardie Industries by 222.4% in the 1st quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock valued at $6,573,000 after buying an additional 192,478 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of James Hardie Industries in the 2nd quarter worth approximately $654,000. Finally, 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 valued at $33,000 after acquiring an additional 1,058 shares during the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

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.