James Hardie Industries (NYSE:JHX) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

James Hardie Industries PLC. (NYSE:JHX) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $27.01 and traded as high as $27.33. James Hardie Industries shares last traded at $27.23, with a volume of 7,340,483 shares traded.

Analyst Upgrades and Downgrades

JHX has been the topic of a number of recent research reports. Stephens raised their price target on shares of James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Barclays raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $26.00 to $35.00 in a research report on Monday, August 10th. Oppenheimer reiterated an “outperform” rating and set a $36.00 price objective on shares of James Hardie Industries in a research note on Wednesday, September 16th. UBS Group reiterated a “buy” rating on shares of James Hardie Industries in a research note on Wednesday, September 16th. Finally, Robert W. Baird cut their target price on shares of James Hardie Industries from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

James Hardie Industries Trading Up 1.1%

The business’s 50 day moving average price is $27.01 and its two-hundred day moving average price is $24.38. The company has a market capitalization of $15.80 billion, a price-to-earnings ratio of 108.92, a price-to-earnings-growth ratio of 2.75 and a beta of 1.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59.

James Hardie Industries (NYSE:JHX) last released its earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 63.9% on a year-over-year basis. Equities analysts forecast that James Hardie Industries PLC. will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

Hedge funds have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC acquired a new position in shares of James Hardie Industries in the third quarter valued at $311,000. State of Wyoming acquired a new stake in James Hardie Industries during the third quarter worth $517,000. Oppenheimer & Co. Inc. increased its holdings in James Hardie Industries by 10.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,000 shares of the construction company’s stock valued at $253,000 after buying an additional 978 shares during the period. Sterling Capital Management LLC increased its holdings in James Hardie Industries by 48.4% in the 3rd quarter. Sterling Capital Management LLC now owns 7,667 shares of the construction company’s stock valued at $194,000 after buying an additional 2,501 shares during the period. Finally, Root Financial Partners LLC bought a new stake in James Hardie Industries in the 3rd quarter valued at $27,000. 7.96% of the stock is owned by institutional investors.

About James Hardie Industries

James Hardie Industries plc is a global building materials manufacturer specializing in fiber cement products. Its portfolio includes exterior siding, trim, soffits, backer board and related solutions used in residential and commercial construction, remodeling and repair projects.

The company markets products under brands including James Hardie, HardiePlank, HardiePanel and HardieBacker. Fiber cement is designed to provide durability and resistance to moisture, fire, pests and changing weather conditions, making it an alternative to materials such as wood, vinyl and traditional cement products.

Founded in Australia in 1888, James Hardie has expanded into an international building products business serving customers across North America, Australia and New Zealand, Europe and other selected markets.