Robert W. Baird Lowers James Hardie Industries (NYSE:JHX) Price Target to $25.00

James Hardie Industries (NYSE:JHX) had its price objective reduced by stock analysts at Robert W. Baird from $32.00 to $25.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target suggests a potential upside of 25.98% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. William Blair initiated coverage on James Hardie Industries in a report on Friday, June 27th. They issued an “outperform” rating for the company. Jefferies Financial Group started coverage on James Hardie Industries in a research report on Friday, August 8th. They issued a “buy” rating and a $34.00 price objective for the company. Macquarie raised James Hardie Industries from a “neutral” rating to an “outperform” rating in a research report on Monday, July 28th. Wall Street Zen downgraded James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Finally, Truist Financial lowered their price objective on James Hardie Industries from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, James Hardie Industries has an average rating of “Buy” and a consensus target price of $33.27.

James Hardie Industries Stock Performance

NYSE JHX opened at $19.8450 on Wednesday. James Hardie Industries has a fifty-two week low of $17.91 and a fifty-two week high of $43.57. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.72 and a beta of 1.74. The business has a fifty day moving average of $26.74 and a 200-day moving average of $26.72. The company has a quick ratio of 1.67, a current ratio of 2.10 and a debt-to-equity ratio of 0.51.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Tuesday, August 19th. The construction company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). James Hardie Industries had a return on equity of 28.55% and a net margin of 8.75%.The company had revenue of $899.90 million during the quarter, compared to analyst estimates of $982.60 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue was down 9.3% compared to the same quarter last year. As a group, analysts predict that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

A number of institutional investors have recently added to or reduced their stakes in JHX. Massachusetts Financial Services Co. MA grew its position in James Hardie Industries by 241.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock valued at $341,989,000 after acquiring an additional 8,988,938 shares during the period. Citigroup Inc. grew its position in James Hardie Industries by 59,775.3% during the first quarter. Citigroup Inc. now owns 5,325,912 shares of the construction company’s stock valued at $125,478,000 after acquiring an additional 5,317,017 shares during the period. Wellington Management Group LLP purchased a new stake in James Hardie Industries during the first quarter valued at about $90,526,000. Balyasny Asset Management L.P. grew its position in James Hardie Industries by 1,883.6% during the second quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock valued at $104,177,000 after acquiring an additional 3,678,889 shares during the period. Finally, Eminence Capital LP purchased a new stake in James Hardie Industries during the second quarter valued at about $83,249,000. Hedge funds and other 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.