James Hardie Industries (NYSE:JHX) Reaches New 52-Week Low – Here’s Why

James Hardie Industries PLC. (NYSE:JHX)’s share price hit a new 52-week low on Thursday . The stock traded as low as $16.98 and last traded at $17.7120, with a volume of 1024134 shares changing hands. The stock had previously closed at $18.50.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JHX. Wolfe Research initiated coverage on James Hardie Industries in a report on Tuesday, September 30th. They issued an “outperform” rating and a $25.00 price target for the company. Oppenheimer set a $28.00 price target on shares of James Hardie Industries and gave the company an “outperform” rating in a report on Wednesday, October 29th. Vertical Research started coverage on shares of James Hardie Industries in a research note on Monday, October 20th. They issued a “hold” rating on the stock. CLSA raised shares of James Hardie Industries to a “hold” rating in a research report on Wednesday, October 8th. Finally, UBS Group reaffirmed a “neutral” rating on shares of James Hardie Industries in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.91.

James Hardie Industries Stock Performance

The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.31 and a current ratio of 3.76. The stock has a 50 day moving average of $20.31 and a 200 day moving average of $23.65. The stock has a market capitalization of $7.47 billion, a P/E ratio of 22.57, a P/E/G ratio of 14.34 and a beta of 1.82.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Tuesday, August 19th. The construction company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The firm had revenue of $899.90 million during the quarter, compared to the consensus estimate of $982.60 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. Equities analysts predict that James Hardie Industries PLC. will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JHX. Smartleaf Asset Management LLC boosted its position in James Hardie Industries by 12.1% during the first quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company’s stock valued at $89,000 after purchasing an additional 397 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of James Hardie Industries by 70.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $30,000 after buying an additional 455 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of James Hardie Industries by 7.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,029 shares of the construction company’s stock valued at $151,000 after buying an additional 525 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in James Hardie Industries by 2.9% in the second quarter. Legacy Wealth Asset Management LLC now owns 19,203 shares of the construction company’s stock worth $516,000 after buying an additional 540 shares during the last quarter. Finally, Greenleaf Trust raised its position in James Hardie Industries by 7.1% during the third quarter. Greenleaf Trust now owns 10,645 shares of the construction company’s stock valued at $204,000 after acquiring an additional 703 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

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.