James Hardie Industries (NYSE:JHX) Raised to Hold at Zacks Research

James Hardie Industries (NYSE:JHX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on JHX. Barclays raised their price objective on James Hardie Industries from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday. Stephens initiated coverage on James Hardie Industries in a research note on Thursday, June 25th. They issued an “overweight” rating and a $31.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.00.

James Hardie Industries Price Performance

Shares of NYSE JHX opened at $25.75 on Monday. James Hardie Industries has a fifty-two week low of $16.46 and a fifty-two week high of $29.83. The company has a 50 day simple moving average of $23.25 and a two-hundred day simple moving average of $22.43. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 117.03 and a beta of 1.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.58.

James Hardie Industries (NYSE:JHX) last released its earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned $0.36 earnings per share. The business’s revenue was up 44.5% on a year-over-year basis. Analysts expect that James Hardie Industries will post 1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of James Hardie Industries during the first quarter valued at approximately $28,000. Modus Advisors LLC purchased a new position in James Hardie Industries in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC raised its holdings in James Hardie Industries by 3,431.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,544 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in James Hardie Industries by 11,238.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,461 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in James Hardie Industries in the 4th quarter valued at approximately $41,000. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.