James Hardie Industries (NYSE:JHX) Stock Rating Upgraded by Zacks Research

James Hardie Industries (NYSE:JHX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Raymond James Financial set a $21.00 target price on James Hardie Industries in a research report on Monday, December 8th. Truist Financial raised their price objective on James Hardie Industries from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Robert W. Baird cut their target price on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Barclays started coverage on James Hardie Industries in a research note on Monday, December 8th. They set an “equal weight” rating and a $21.00 target price for the company. Finally, Vertical Research raised shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, James Hardie Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.93.

James Hardie Industries Stock Down 1.9%

Shares of NYSE:JHX opened at $23.22 on Monday. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 48.36, a price-to-earnings-growth ratio of 7.61 and a beta of 1.80. The company has a 50 day moving average of $20.32 and a two-hundred day moving average of $21.87. James Hardie Industries has a 52-week low of $16.46 and a 52-week high of $34.96. The company has a quick ratio of 1.23, a current ratio of 1.79 and a debt-to-equity ratio of 0.80.

James Hardie Industries (NYSE:JHX) last announced its earnings results 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 net margin of 4.67% and a return on equity of 18.40%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. As a group, analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings 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 buying an additional 36,567,726 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of James Hardie Industries by 6.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company’s stock valued at $261,273,000 after purchasing an additional 882,795 shares during the last quarter. Phoenix Financial Ltd. bought a new stake in James Hardie Industries in the third quarter worth $105,839,000. Alyeska Investment Group L.P. increased its position in James Hardie Industries by 100.9% during 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 buying an additional 2,275,762 shares during the last quarter. Finally, Capital World Investors bought a new position in James Hardie Industries during the third quarter valued at about $86,121,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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.