James Hardie Industries (NYSE:JHX) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of James Hardie Industries (NYSE:JHX) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $34.00 target price on the construction company’s stock.

Other research analysts also recently issued research reports about the company. Truist Financial reduced their target price on James Hardie Industries from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Macquarie raised James Hardie Industries from a “neutral” rating to an “outperform” rating in a research report on Monday, July 28th. Baird R W raised James Hardie Industries to a “strong-buy” rating in a research report on Friday, July 11th. Robert W. Baird began coverage on James Hardie Industries in a research report on Friday, July 11th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, William Blair began coverage on James Hardie Industries in a research report on Friday, June 27th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $36.67.

James Hardie Industries Stock Up 2.0%

JHX stock opened at $28.26 on Friday. James Hardie Industries has a fifty-two week low of $19.72 and a fifty-two week high of $43.57. The business’s 50 day moving average price is $26.63 and its two-hundred day moving average price is $27.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.67 and a current ratio of 2.10. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.74.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Tuesday, May 20th. The construction company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). James Hardie Industries had a return on equity of 31.52% and a net margin of 10.94%. The firm had revenue of $971.50 million for the quarter, compared to analysts’ expectations of $983.86 million. During the same quarter last year, the company posted $1.61 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

Several institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its stake in James Hardie Industries by 241.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock valued at $341,989,000 after purchasing an additional 8,988,938 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of James Hardie Industries by 59,775.3% during the 1st quarter. Citigroup Inc. now owns 5,325,912 shares of the construction company’s stock valued at $125,478,000 after buying an additional 5,317,017 shares during the period. Wellington Management Group LLP bought a new position in shares of James Hardie Industries during the 1st quarter valued at $90,526,000. Goldman Sachs Group Inc. lifted its holdings in shares of James Hardie Industries by 160.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after buying an additional 1,662,743 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of James Hardie Industries by 5,001.3% during the 1st quarter. Millennium Management LLC now owns 997,875 shares of the construction company’s stock valued at $23,510,000 after buying an additional 978,314 shares during the period. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

James Hardie Industries Company Profile

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.