James Hardie Industries PLC. (NYSE:JHX) Sees Large Increase in Short Interest

James Hardie Industries PLC. (NYSE:JHX) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 25,901,156 shares, an increase of 70.5% from the September 15th total of 15,189,864 shares. Currently, 4.5% of the shares of the stock are sold short. Based on an average trading volume of 18,436,803 shares, the short-interest ratio is presently 1.4 days.

James Hardie Industries Price Performance

NYSE JHX traded up $1.36 on Thursday, hitting $25.94. The company had a trading volume of 4,745,472 shares, compared to its average volume of 7,748,204. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03. The company’s fifty day moving average price is $27.96 and its 200-day moving average price is $24.75. The company has a market capitalization of $15.06 billion, a PE ratio of 103.70, a PEG ratio of 2.41 and a beta of 1.79. James Hardie Industries has a 12-month low of $16.46 and a 12-month high of $31.43.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The company’s revenue for the quarter was up 63.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. As a group, 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 institutional investors have recently bought and sold shares of JHX. Squarepoint Ops LLC purchased a new stake in James Hardie Industries during the 2nd quarter worth approximately $47,651,000. Renaissance Technologies LLC lifted its position in shares of James Hardie Industries by 48.5% in the first quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock valued at $72,720,000 after acquiring an additional 1,254,400 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of James Hardie Industries by 12.3% in the second quarter. Alyeska Investment Group L.P. now owns 8,737,905 shares of the construction company’s stock valued at $228,758,000 after acquiring an additional 954,317 shares in the last quarter. RDST Capital LLC boosted its stake in shares of James Hardie Industries by 24.0% in the second quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company’s stock worth $105,114,000 after acquiring an additional 776,950 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of James Hardie Industries by 81.6% in the first quarter. Bank of America Corp DE now owns 1,512,821 shares of the construction company’s stock worth $28,653,000 after acquiring an additional 679,728 shares during the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JHX has been the topic of several recent analyst reports. Stephens increased their target price on shares of James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Robert W. Baird cut their price target on James Hardie Industries from $34.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group reaffirmed a “buy” rating on shares of James Hardie Industries in a report on Wednesday, September 16th. Melius Research began coverage on James Hardie Industries in a research report on Tuesday, October 6th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and set a $36.00 price target on shares of James Hardie Industries in a research report on Wednesday, September 16th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, James Hardie Industries presently has an average rating of “Moderate Buy” and an average target price of $33.89.

About James Hardie Industries

James Hardie Industries plc is a building materials company that manufactures and markets fiber cement and fiber gypsum products. Its products are used primarily in residential and commercial construction, including exterior siding, trim, soffits, backer board, and interior wall and flooring applications.

The company sells products under brands that include Hardie, HardiePlank, HardiePanel, and HardieBacker. Its fiber cement products are designed to provide durability and resistance to moisture, fire, pests, and weathering, serving builders, contractors, architects, and homeowners.

James Hardie traces its origins to Australia in the late 19th century and has since expanded into an international building products company.