James Hardie Industries (NYSE:JHX) Reaches New 12-Month Low – What’s Next?

James Hardie Industries plc (NYSE:JHX) shares hit a new 52-week low during trading on Thursday . The company traded as low as $28.78 and last traded at $28.92, with a volume of 70672 shares trading hands. The stock had previously closed at $31.36.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. StockNews.com downgraded James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Truist Financial assumed coverage on James Hardie Industries in a research note on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.00.

James Hardie Industries Stock Performance

The stock has a 50 day moving average price of $32.56 and a two-hundred day moving average price of $34.12. The company has a market cap of $12.44 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 6.16 and a beta of 1.84. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The company had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. On average, research analysts predict that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC lifted its position in shares of James Hardie Industries by 317.2% during the 3rd quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock valued at $6,924,000 after acquiring an additional 131,120 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of James Hardie Industries by 5.2% during the 3rd quarter. Pathstone Holdings LLC now owns 41,798 shares of the construction company’s stock worth $1,678,000 after acquiring an additional 2,060 shares during the period. West Family Investments Inc. acquired a new stake in shares of James Hardie Industries during the 3rd quarter worth approximately $237,000. Charles Schwab Investment Management Inc. increased its stake in James Hardie Industries by 67.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 51,074 shares of the construction company’s stock valued at $2,051,000 after acquiring an additional 20,496 shares during the last quarter. Finally, Cerity Partners LLC raised its position in James Hardie Industries by 58.8% during the third quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock valued at $1,517,000 after purchasing an additional 13,981 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.