James Hardie Industries (NYSE:JHX) Upgraded by CLSA to Outperform

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James Hardie Industries (NYSE:JHX) was upgraded by stock analysts at CLSA from an “underperform” rating to an “outperform” rating in a research note issued on Thursday, The Fly reports.

A number of other brokerages have also recently weighed in on JHX. Zacks Investment Research raised shares of James Hardie Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Royal Bank of Canada upgraded shares of James Hardie Industries from an “underperform” rating to a “sector perform” rating and set a $23.00 price objective on the stock in a report on Tuesday, March 17th. Finally, ValuEngine upgraded shares of James Hardie Industries from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Shares of NYSE JHX traded up $0.53 during midday trading on Thursday, reaching $11.55. 2,679 shares of the stock were exchanged, compared to its average volume of 84,277. The business has a 50-day simple moving average of $17.50 and a two-hundred day simple moving average of $18.44. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 21.75 and a beta of 0.77. James Hardie Industries has a 12 month low of $8.98 and a 12 month high of $22.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.61 and a quick ratio of 0.96.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.10 earnings per share for the quarter. The company had revenue of $616.70 million for the quarter, compared to analysts’ expectations of $624.00 million. James Hardie Industries had a net margin of 9.22% and a return on equity of 23.39%. Equities research analysts expect that James Hardie Industries will post 0.83 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in shares of James Hardie Industries by 3.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,363 shares of the construction company’s stock worth $341,000 after acquiring an additional 617 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of James Hardie Industries by 28.1% during the fourth quarter. Quadrant Capital Group LLC now owns 22,625 shares of the construction company’s stock worth $435,000 after acquiring an additional 4,959 shares during the period. Jane Street Group LLC raised its holdings in shares of James Hardie Industries by 73.1% during the fourth quarter. Jane Street Group LLC now owns 18,084 shares of the construction company’s stock worth $355,000 after acquiring an additional 7,636 shares during the period. Renaissance Technologies LLC raised its holdings in shares of James Hardie Industries by 3.3% during the fourth quarter. Renaissance Technologies LLC now owns 360,814 shares of the construction company’s stock worth $7,086,000 after acquiring an additional 11,487 shares during the period. Finally, CIBC World Markets Inc. acquired a new stake in shares of James Hardie Industries during the fourth quarter worth $241,000. Institutional investors and hedge funds own 0.79% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement siding and backer board products. It operates through North America Fiber Cement, International Fiber Cement, Other Businesses, and Research and Development segments. The company offers fiber cement interior linings, exterior siding products, fiberglass windows, and related accessories products; fiber cement building materials for a range of applications, including external siding, internal walls, floors, ceilings, soffits, trim, fencing, decking, and facades; floor underlayments; planks, which are used in external siding; flat panels for internal and external wall linings; gypsum fiber boards; and cement-bonded boards.

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Analyst Recommendations for James Hardie Industries (NYSE:JHX)

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