James Hardie Industries (NYSE:JHX) Reaches New 52-Week Low – Should You Sell?

James Hardie Industries plc (NYSE:JHX) shares hit a new 52-week low during trading on Thursday . The company traded as low as $28.78 and last traded at $28.92, with a volume of 70672 shares changing hands. The stock had previously closed at $31.36.

Wall Street Analysts Forecast Growth

JHX has been the subject of several recent research reports. StockNews.com cut shares of James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Truist Financial started coverage on James Hardie Industries in a research report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

James Hardie Industries Price Performance

The firm has a market cap of $12.44 billion, a P/E ratio of 28.65, a P/E/G ratio of 6.16 and a beta of 1.84. The business’s 50 day moving average is $32.56 and its two-hundred day moving average is $34.12. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52.

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

Hedge Funds Weigh In On James Hardie Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc acquired a new position in James Hardie Industries during the 4th quarter worth approximately $25,000. R Squared Ltd acquired a new position in shares of James Hardie Industries during the fourth quarter worth approximately $27,000. TD Private Client Wealth LLC lifted its holdings in shares of James Hardie Industries by 45.3% in the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock worth $30,000 after purchasing an additional 303 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of James Hardie Industries in the 4th quarter worth $55,000. Finally, Pinpoint Asset Management Ltd bought a new stake in James Hardie Industries during the 3rd quarter valued at $64,000. 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.