James Hardie Industries PLC. (NYSE:JHX) Receives Consensus Rating of “Moderate Buy” from Brokerages

James Hardie Industries PLC. (NYSE:JHX) has been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $25.9278.

JHX has been the topic of several analyst reports. Raymond James Financial set a $21.00 price objective on James Hardie Industries in a research report on Monday, December 8th. Wolfe Research assumed coverage on James Hardie Industries in a report on Tuesday, September 30th. They set an “outperform” rating and a $25.00 price target on the stock. Robert W. Baird reduced their price objective on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 19th. Finally, Truist Financial lifted their price target on shares of James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th.

James Hardie Industries Stock Up 2.7%

NYSE:JHX opened at $24.54 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.79 and a quick ratio of 1.23. The firm’s 50-day moving average price is $20.62 and its 200-day moving average price is $21.91. The company has a market capitalization of $10.55 billion, a PE ratio of 51.13, a P/E/G ratio of 7.68 and a beta of 1.80. James Hardie Industries has a 1-year low of $16.46 and a 1-year high of $34.75.

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

Hedge Funds Weigh In On James Hardie Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of James Hardie Industries by 259.7% during the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock valued at $972,981,000 after acquiring an additional 36,567,726 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of James Hardie Industries by 6.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company’s stock worth $261,273,000 after purchasing an additional 882,795 shares during the period. Phoenix Financial Ltd. bought a new position in shares of James Hardie Industries in the third quarter worth approximately $105,839,000. Alyeska Investment Group L.P. increased its stake in shares of James Hardie Industries by 100.9% in the third quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company’s stock worth $87,055,000 after purchasing an additional 2,275,762 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of James Hardie Industries during the 3rd quarter valued at $86,121,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

About James Hardie Industries

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.