James Hardie Industries (NYSE:JHX) Upgraded to Buy at StockNews.com

James Hardie Industries (NYSE:JHX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other research firms have also weighed in on JHX. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group restated a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Finally, Truist Financial initiated coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $45.00.

James Hardie Industries Stock Performance

Shares of NYSE:JHX traded down $0.15 on Thursday, reaching $32.50. The company’s stock had a trading volume of 53,849 shares, compared to its average volume of 94,608. James Hardie Industries has a 52-week low of $29.88 and a 52-week high of $43.57. The stock has a market capitalization of $13.97 billion, a P/E ratio of 32.17, a PEG ratio of 4.57 and a beta of 1.81. The stock’s 50-day moving average is $32.57 and its two-hundred day moving average is $34.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.02 and a quick ratio of 1.50.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 34.42% and a net margin of 11.15%. The firm had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. As a group, sell-side analysts forecast that James Hardie Industries will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JHX. Versant Capital Management Inc purchased a new stake in shares of James Hardie Industries during the 4th quarter worth $25,000. R Squared Ltd purchased a new position in shares of James Hardie Industries in the 4th quarter valued at about $27,000. TD Private Client Wealth LLC lifted its stake in shares of James Hardie Industries by 45.3% in the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock valued at $30,000 after purchasing an additional 303 shares during the period. Huntington National Bank purchased a new stake in James Hardie Industries during the third quarter worth about $55,000. Finally, Aquatic Capital Management LLC acquired a new position in James Hardie Industries during the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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.