StockNews.com Downgrades James Hardie Industries (NYSE:JHX) to Hold

James Hardie Industries (NYSE:JHX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also recently issued reports on JHX. Truist Financial started coverage on James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, James Hardie Industries presently has an average rating of “Hold” and a consensus price target of $40.25.

James Hardie Industries Stock Performance

Shares of NYSE JHX opened at $31.75 on Wednesday. The firm has a 50 day moving average of $34.09 and a 200 day moving average of $34.57. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 4.35 and a beta of 1.77. James Hardie Industries has a 12-month low of $29.88 and a 12-month high of $43.57. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $960.80 million for the quarter, compared to the consensus estimate of $973.49 million. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, research analysts anticipate that James Hardie Industries will post 1.47 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its holdings in James Hardie Industries by 2.6% during the third quarter. Sequoia Financial Advisors LLC now owns 12,494 shares of the construction company’s stock worth $502,000 after buying an additional 318 shares during the period. Franklin Resources Inc. grew its position in shares of James Hardie Industries by 4.4% in the third quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock valued at $315,000 after purchasing an additional 359 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of James Hardie Industries by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 32,630 shares of the construction company’s stock worth $1,029,000 after buying an additional 375 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of James Hardie Industries by 46.3% in the third quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock valued at $55,000 after purchasing an additional 432 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of James Hardie Industries by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,496 shares of the construction company’s stock valued at $2,223,000 after purchasing an additional 534 shares during the last quarter. 7.96% of the stock is currently owned by institutional investors.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.