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

StockNews.com upgraded shares of James Hardie Industries (NYSE:JHX) from a hold rating to a buy rating in a research note released on Thursday morning.

Several other research firms have also recently issued reports on JHX. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 6th. Finally, Truist Financial began coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They set a “buy” rating and a $45.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $45.00.

James Hardie Industries Stock Down 0.5 %

JHX stock opened at $32.50 on Thursday. The stock has a market capitalization of $13.97 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 4.71 and a beta of 1.81. The company has a fifty day moving average of $32.57 and a 200-day moving average of $34.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 2.02. 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 released its earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $953.30 million for the quarter, compared to analysts’ expectations of $967.63 million. James Hardie Industries had a return on equity of 34.42% and a net margin of 11.15%. As a group, analysts expect that James Hardie Industries will post 1.39 EPS for the current year.

Institutional Investors Weigh In On James Hardie Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its position in shares of James Hardie Industries by 55.6% in the third quarter. CWM LLC now owns 2,751 shares of the construction company’s stock valued at $110,000 after buying an additional 983 shares during the last quarter. Creative Planning grew its stake in James Hardie Industries by 16.3% in the 3rd quarter. Creative Planning now owns 77,168 shares of the construction company’s stock worth $3,098,000 after acquiring an additional 10,803 shares during the period. Blue Trust Inc. raised its holdings in James Hardie Industries by 210.2% in the 3rd quarter. Blue Trust Inc. now owns 3,242 shares of the construction company’s stock valued at $130,000 after acquiring an additional 2,197 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in James Hardie Industries by 39.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,238 shares of the construction company’s stock valued at $250,000 after acquiring an additional 1,763 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of James Hardie Industries by 7.8% during the 3rd quarter. Whittier Trust Co. now owns 21,904 shares of the construction company’s stock worth $879,000 after purchasing an additional 1,576 shares during the period. 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.