James Hardie Industries (NYSE:JHX) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of James Hardie Industries (NYSE:JHX) from a buy rating to a hold rating in a research report report published on Wednesday morning.

JHX has been the topic of several other research reports. Truist Financial assumed coverage on James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, James Hardie Industries has an average rating of “Hold” and an average price target of $40.25.

James Hardie Industries Stock Up 1.0 %

Shares of NYSE:JHX opened at $31.87 on Wednesday. The firm has a 50 day simple moving average of $34.19 and a 200 day simple moving average of $34.59. James Hardie Industries has a 52 week low of $29.88 and a 52 week high of $43.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 2.02. The company has a market cap of $13.70 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 4.35 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Tuesday, November 12th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $960.80 million for the quarter, compared to the consensus estimate of $973.49 million. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The company’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. As a group, research analysts expect that James Hardie Industries will post 1.47 earnings per share for the current 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 company. M&T Bank Corp bought a new stake in shares of James Hardie Industries in the 3rd quarter valued at approximately $293,000. Cerity Partners LLC grew its position in James Hardie Industries by 58.8% in the third quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock worth $1,517,000 after acquiring an additional 13,981 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of James Hardie Industries during the 3rd quarter worth $2,369,000. FMR LLC increased its stake in shares of 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 purchasing an additional 29,401 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings 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 purchasing an additional 131,120 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

James Hardie Industries Company Profile

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.