James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume – Time to Buy?

James Hardie Industries PLC. (NYSE:JHX) shares saw unusually-high trading volume on Tuesday . Approximately 7,348,579 shares were traded during mid-day trading, an increase of 22% from the previous session’s volume of 6,026,653 shares.The stock last traded at $23.1550 and had previously closed at $23.66.

Wall Street Analyst Weigh In

A number of analysts have issued reports on JHX shares. Truist Financial boosted their price objective on shares of James Hardie Industries from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Barclays assumed coverage on James Hardie Industries in a research note on Monday, December 8th. They issued an “equal weight” rating and a $21.00 price target for the company. Wolfe Research started coverage on James Hardie Industries in a research report on Tuesday, September 30th. They set an “outperform” rating and a $25.00 price target on the stock. Raymond James Financial set a $21.00 price objective on James Hardie Industries in a report on Monday, December 8th. Finally, Vertical Research raised James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.93.

James Hardie Industries Stock Performance

The company has a 50 day moving average price of $20.20 and a 200-day moving average price of $21.91. The company has a current ratio of 1.79, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. The company has a market cap of $10.02 billion, a P/E ratio of 48.62, a price-to-earnings-growth ratio of 7.61 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the firm posted $0.36 earnings per share. James Hardie Industries’s revenue was up 34.5% compared to the same quarter last year. On average, equities analysts expect that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC boosted its position in James Hardie Industries by 70.4% in the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $30,000 after buying an additional 455 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of James Hardie Industries by 641.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,058 shares in the last quarter. MAI Capital Management grew its position in James Hardie Industries by 4,266.7% during the 2nd quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock worth $35,000 after acquiring an additional 1,280 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in James Hardie Industries by 11,238.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Hilltop National Bank bought a new position in James Hardie Industries in the fourth quarter valued at about $47,000. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.