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

James Hardie Industries plc (NYSE:JHX) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 46,800 shares, an increase of 25.5% from the February 28th total of 37,300 shares. Based on an average trading volume of 309,800 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

JHX has been the topic of several recent analyst reports. StockNews.com raised shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. Macquarie downgraded James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday, March 24th. Morgan Stanley raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 24th. Finally, Truist Financial assumed coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.45.

Institutional Investors Weigh In On James Hardie Industries

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc acquired a new position in James Hardie Industries during the fourth quarter worth about $25,000. R Squared Ltd purchased a new position in James Hardie Industries in the 4th quarter worth approximately $27,000. TD Private Client Wealth LLC grew its position 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 in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in shares of James Hardie Industries in the third quarter valued at approximately $64,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of James Hardie Industries in the third quarter valued at approximately $71,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Price Performance

Shares of James Hardie Industries stock traded down $0.47 during mid-day trading on Tuesday, reaching $23.09. 3,401,673 shares of the stock traded hands, compared to its average volume of 248,535. The stock has a market capitalization of $9.92 billion, a PE ratio of 22.86, a PEG ratio of 6.16 and a beta of 1.84. The business has a 50-day moving average of $31.41 and a 200 day moving average of $33.49. James Hardie Industries has a fifty-two week low of $22.93 and a fifty-two week high of $43.57. 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 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. The firm had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. On average, analysts predict that James Hardie Industries will post 1.39 EPS for the current year.

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.