James Hardie Industries (NYSE:JHX) Stock Dropped to Neutral by Citigroup

Citigroup downgraded shares of James Hardie Industries (NYSE:JHX) from a buy rating to a neutral rating in a research note published on Monday, Marketbeat.com reports.

A number of other equities research analysts have also weighed in on the stock. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a report on Friday, August 7th. Zacks Research upgraded James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Barclays raised James Hardie Industries from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $26.00 to $35.00 in a research report on Monday, August 10th. Raymond James Financial set a $35.00 price target on James Hardie Industries in a research note on Monday, August 10th. Finally, Truist Financial increased their price objective on James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.78.

James Hardie Industries Stock Down 2.6%

NYSE:JHX opened at $25.42 on Monday. The company has a market cap of $14.75 billion, a PE ratio of 101.68, a P/E/G ratio of 2.55 and a beta of 1.77. James Hardie Industries has a twelve month low of $16.46 and a twelve month high of $31.43. The company has a current ratio of 1.59, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $28.34 and its two-hundred day moving average is $24.29.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The business’s quarterly revenue was up 63.9% on a year-over-year basis. During the same quarter last year, the company posted $0.29 earnings per share. Analysts anticipate that James Hardie Industries will post 1.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. boosted its stake in shares of James Hardie Industries by 12.3% in the second quarter. Alyeska Investment Group L.P. now owns 8,737,905 shares of the construction company’s stock worth $228,758,000 after buying an additional 954,317 shares during the last quarter. Hill City Capital LP grew its holdings in James Hardie Industries by 1.8% during the second quarter. Hill City Capital LP now owns 5,723,900 shares of the construction company’s stock worth $149,852,000 after acquiring an additional 102,200 shares during the period. RDST Capital LLC raised its position in James Hardie Industries by 24.0% during the second quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company’s stock valued at $105,114,000 after acquiring an additional 776,950 shares in the last quarter. Renaissance Technologies LLC raised its position in James Hardie Industries by 48.5% during the first quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock valued at $72,720,000 after acquiring an additional 1,254,400 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in James Hardie Industries by 22.5% in the second quarter. Jones Financial Companies Lllp now owns 2,166,998 shares of the construction company’s stock valued at $57,707,000 after acquiring an additional 397,621 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

About James Hardie Industries

James Hardie Industries plc is a building materials company specializing in fiber cement and fiber gypsum products. Its products are used in residential and commercial construction, remodeling and repair applications, including exterior siding, trim, soffits, weatherboard, roofing components and interior wall systems.

The company markets products under brands that include Hardie and Fermacell. Its fiber cement materials are designed to provide durability and resistance to fire, moisture, pests and weather, serving applications where alternatives such as wood, vinyl or traditional gypsum may be used.

Founded in Australia in 1888, James Hardie has developed into an international manufacturer and supplier serving customers across North America, Australia and New Zealand, Europe and other markets.