Stephens Forecasts Strong Price Appreciation for James Hardie Industries (NYSE:JHX) Stock

James Hardie Industries (NYSE:JHX) had its price target hoisted by equities researchers at Stephens from $31.00 to $33.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Stephens’ price target indicates a potential upside of 24.05% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays reissued a “positive” rating on shares of James Hardie Industries in a research note on Friday. Zacks Research upgraded James Hardie Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.33.

James Hardie Industries Stock Performance

Shares of NYSE:JHX opened at $26.60 on Tuesday. The business has a fifty day moving average of $24.25 and a 200-day moving average of $22.74. 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 has a twelve month low of $16.46 and a twelve month high of $29.83. The firm has a market cap of $15.44 billion, a PE ratio of 120.93 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Wednesday, May 20th. The construction company reported $0.30 earnings per share 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 analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $0.36 EPS. The company’s quarterly revenue was up 44.5% compared to the same quarter last year. On average, equities research analysts predict that James Hardie Industries will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB acquired a new stake in shares of James Hardie Industries in the 2nd quarter valued at approximately $5,459,000. Breakwater Capital Group acquired a new position in James Hardie Industries during the second quarter valued at approximately $273,000. Parallel Advisors LLC grew its holdings in James Hardie Industries by 46.5% during the first quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock valued at $86,000 after purchasing an additional 1,439 shares during the period. Segall Bryant & Hamill LLC increased its stake in James Hardie Industries by 19.8% in the first quarter. Segall Bryant & Hamill LLC now owns 420,152 shares of the construction company’s stock valued at $7,958,000 after purchasing an additional 69,449 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in James Hardie Industries by 81.6% in the first quarter. Bank of America Corp DE now owns 1,512,821 shares of the construction company’s stock valued at $28,653,000 after purchasing an additional 679,728 shares in the last quarter. 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.