James Hardie Industries (NYSE:JHX) Rating Lowered to Strong Sell at Zacks Research

James Hardie Industries (NYSE:JHX) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also issued reports on JHX. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 11th. Truist Financial increased their target price on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Barclays lowered their target price on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, James Hardie Industries presently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

James Hardie Industries Price Performance

Shares of JHX opened at $20.79 on Thursday. The business’s 50-day moving average is $20.18 and its two-hundred day moving average is $21.06. The company has a market capitalization of $8.94 billion, a P/E ratio of 94.49, a P/E/G ratio of 11.30 and a beta of 1.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.95 and a current ratio of 1.58. James Hardie Industries has a fifty-two week low of $16.46 and a fifty-two week high of $29.83.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, May 19th. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 44.5% on a year-over-year basis. Research analysts predict that James Hardie Industries will post 1.24 earnings per share for the current year.

Institutional Investors Weigh In On James Hardie Industries

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in James Hardie Industries by 259.7% in 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 buying an additional 36,567,726 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in James Hardie Industries by 22.2% in the 4th quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company’s stock valued at $201,071,000 after buying an additional 1,758,111 shares in the last quarter. Phoenix Financial Ltd. purchased a new position in James Hardie Industries in the 3rd quarter valued at about $105,839,000. Alyeska Investment Group L.P. lifted its stake in James Hardie Industries by 14.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,166,115 shares of the construction company’s stock valued at $107,197,000 after buying an additional 634,354 shares in the last quarter. Finally, Hill City Capital LP lifted its stake in James Hardie Industries by 21.4% in the 4th quarter. Hill City Capital LP now owns 5,120,200 shares of the construction company’s stock valued at $106,244,000 after buying an additional 901,700 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 (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.