James Hardie Industries plc (NYSE:JHX) Sees Large Growth in Short Interest

James Hardie Industries plc (NYSE:JHX) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 81,200 shares, a growth of 165.4% from the January 15th total of 30,600 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 94,300 shares, the days-to-cover ratio is presently 0.9 days.

James Hardie Industries Price Performance

JHX stock traded down $0.59 during trading hours on Wednesday, hitting $32.74. 39,097 shares of the stock traded hands, compared to its average volume of 99,586. The company has a market cap of $14.07 billion, a P/E ratio of 32.42, a P/E/G ratio of 4.92 and a beta of 1.81. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $32.88 and a 200 day simple moving average of $34.56. James Hardie Industries has a one year low of $29.88 and a one year high of $43.57.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Tuesday, November 12th. The construction company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $960.80 million during the quarter, compared to analysts’ expectations of $973.49 million. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Equities analysts forecast that James Hardie Industries will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JHX. Natixis Advisors LLC raised its stake in shares of James Hardie Industries by 10.3% in the fourth quarter. Natixis Advisors LLC now owns 190,243 shares of the construction company’s stock worth $5,861,000 after acquiring an additional 17,783 shares during the last quarter. FMR LLC raised its stake in James Hardie Industries by 22.5% during the 3rd quarter. FMR LLC now owns 160,273 shares of the construction company’s stock worth $6,435,000 after buying an additional 29,401 shares during the period. Creative Planning grew its position in shares of James Hardie Industries by 16.3% in the 3rd quarter. Creative Planning now owns 77,168 shares of the construction company’s stock valued at $3,098,000 after purchasing an additional 10,803 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of James Hardie Industries in the 3rd quarter valued at approximately $2,369,000. Finally, Quantinno Capital Management LP lifted its position in James Hardie Industries by 49.0% in the 3rd quarter. Quantinno Capital Management LP now owns 58,576 shares of the construction company’s stock valued at $2,352,000 after acquiring an additional 19,268 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial began coverage on shares of James Hardie Industries in a research report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. StockNews.com lowered shares of James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 25th. Finally, JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, James Hardie Industries has an average rating of “Moderate Buy” and an average target price of $45.00.

About James Hardie Industries

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.