James Hardie Industries (NYSE:JHX) Sets New 12-Month Low – Here’s What Happened

Shares of James Hardie Industries plc (NYSE:JHX) hit a new 52-week low on Wednesday . The company traded as low as $23.23 and last traded at $23.48, with a volume of 1038150 shares changing hands. The stock had previously closed at $23.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James set a $55.00 price target on James Hardie Industries in a research note on Monday. StockNews.com upgraded James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Truist Financial initiated coverage on James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 target price for the company. Macquarie downgraded shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday. Finally, Morgan Stanley raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a report on Monday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

James Hardie Industries Price Performance

The business has a 50-day moving average of $32.18 and a two-hundred day moving average of $33.82. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52. The firm has a market cap of $10.08 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 6.16 and a beta of 1.84.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The company had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. On average, sell-side analysts anticipate that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Large investors have recently modified their holdings of the business. Northern Trust Corp increased its holdings in James Hardie Industries by 76.3% in the fourth quarter. Northern Trust Corp now owns 374,164 shares of the construction company’s stock valued at $11,528,000 after purchasing an additional 161,899 shares during the period. Lazard Asset Management LLC grew its position in shares of James Hardie Industries by 20.0% in the 4th quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company’s stock valued at $29,718,000 after buying an additional 161,059 shares during the last quarter. Bank of America Corp DE increased its stake in shares of James Hardie Industries by 19.4% in the fourth quarter. Bank of America Corp DE now owns 453,206 shares of the construction company’s stock valued at $13,963,000 after buying an additional 73,504 shares during the period. Jane Street Group LLC increased its stake in shares of James Hardie Industries by 184.4% in the fourth quarter. Jane Street Group LLC now owns 86,531 shares of the construction company’s stock valued at $2,666,000 after buying an additional 56,104 shares during the period. Finally, ABC Arbitrage SA bought a new position in shares of James Hardie Industries during the fourth quarter worth about $1,457,000. Institutional investors own 7.96% of the company’s stock.

About James Hardie Industries

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.