James Hardie Industries (NYSE:JHX) Price Target Raised to $26.00

James Hardie Industries (NYSE:JHX) had its target price boosted by Barclays from $25.00 to $26.00 in a research note published on Friday morning,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

Other analysts also recently issued reports about the stock. Stephens initiated coverage on shares of James Hardie Industries in a research report on Thursday, June 25th. They set an “overweight” rating and a $31.00 price objective on the stock. Zacks Research raised shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.11.

James Hardie Industries Trading Down 0.1%

James Hardie Industries stock opened at $26.52 on Friday. James Hardie Industries has a 12-month low of $16.46 and a 12-month high of $29.83. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of 120.53 and a beta of 1.77. The firm has a 50 day moving average of $24.12 and a 200 day moving average of $22.71. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The company’s revenue for the quarter was up 44.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. As a group, research analysts predict that James Hardie Industries will post 1.24 earnings per share for the current year.

Institutional Investors Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in James Hardie Industries by 259.7% in the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock valued at $972,981,000 after acquiring an additional 36,567,726 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in James Hardie Industries in the 4th quarter worth $77,530,000. RDST Capital LLC bought a new position in shares of James Hardie Industries during the 4th quarter valued at about $55,893,000. Renaissance Technologies LLC bought a new position in shares of James Hardie Industries during the 4th quarter valued at about $53,641,000. Finally, Alyeska Investment Group L.P. grew its position in shares of James Hardie Industries by 100.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company’s stock valued at $87,055,000 after purchasing an additional 2,275,762 shares in the last quarter. Institutional investors own 7.96% of the company’s stock.

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.