James Hardie Industries (NYSE:JHX) Stock Gets Price Target Cut from Robert W. Baird

James Hardie Industries (NYSE:JHX) had its target price trimmed by Robert W. Baird from $34.00 to $32.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Other analysts have also issued research reports about the stock. Loop Capital assumed coverage on shares of James Hardie Industries in a research report on Monday, September 14th. They issued a “buy” rating and a $35.00 price target on the stock. Citigroup downgraded shares of James Hardie Industries from a “buy” rating to a “neutral” rating in a report on Monday, September 28th. Melius Research initiated coverage on shares of James Hardie Industries in a report on Tuesday, October 6th. They issued a “buy” rating and a $36.00 price objective for the company. Truist Financial lifted their price objective on shares of James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Barclays raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $26.00 to $35.00 in a report on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.89.

James Hardie Industries Stock Up 5.5%

JHX stock opened at $25.93 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 103.72, a PEG ratio of 2.40 and a beta of 1.79. James Hardie Industries has a fifty-two week low of $16.46 and a fifty-two week high of $31.43. The stock has a fifty day moving average of $27.92 and a 200-day moving average of $24.80.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 63.9% on a year-over-year basis. As a group, equities 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 hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. boosted its position 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 valued at $228,758,000 after acquiring an additional 954,317 shares during the period. Hill City Capital LP grew its stake 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 valued at $149,852,000 after acquiring an additional 102,200 shares in the last quarter. RDST Capital LLC grew its stake 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 increased its holdings in James Hardie Industries by 48.5% during the 1st quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock worth $72,720,000 after acquiring an additional 1,254,400 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in James Hardie Industries by 22.5% during the 2nd quarter. Jones Financial Companies Lllp now owns 2,166,998 shares of the construction company’s stock worth $57,707,000 after acquiring an additional 397,621 shares during the period. 7.96% of the stock is currently owned by institutional investors.

About James Hardie Industries

James Hardie Industries plc is a building materials company that manufactures and markets fiber cement and fiber gypsum products. Its products are used primarily in residential and commercial construction, including exterior siding, trim, soffits, backer board, and interior wall and flooring applications.

The company sells products under brands that include Hardie, HardiePlank, HardiePanel, and HardieBacker. Its fiber cement products are designed to provide durability and resistance to moisture, fire, pests, and weathering, serving builders, contractors, architects, and homeowners.

James Hardie traces its origins to Australia in the late 19th century and has since expanded into an international building products company.