Truist Financial Issues Pessimistic Forecast for James Hardie Industries (NYSE:JHX) Stock Price

James Hardie Industries (NYSE:JHX) had its target price cut by equities researchers at Truist Financial from $35.00 to $25.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective suggests a potential upside of 25.98% from the company’s previous close.

A number of other analysts have also commented on JHX. Robert W. Baird dropped their price target on James Hardie Industries from $32.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. Wall Street Zen lowered James Hardie Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Baird R W upgraded James Hardie Industries to a “strong-buy” rating in a report on Friday, July 11th. Macquarie upgraded James Hardie Industries from a “neutral” rating to an “outperform” rating in a report on Monday, July 28th. Finally, William Blair began coverage on James Hardie Industries in a report on Friday, June 27th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, James Hardie Industries has a consensus rating of “Buy” and a consensus price target of $33.27.

James Hardie Industries Stock Performance

Shares of JHX stock opened at $19.8450 on Wednesday. The firm has a 50-day moving average of $26.74 and a 200-day moving average of $26.72. The company has a market cap of $8.53 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.72 and a beta of 1.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.67. James Hardie Industries has a one year low of $17.91 and a one year high of $43.57.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Tuesday, August 19th. The construction company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $899.90 million during the quarter, compared to analysts’ expectations of $982.60 million. James Hardie Industries had a net margin of 8.75% and a return on equity of 28.55%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Equities research analysts forecast that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its position in shares of James Hardie Industries by 70.4% in the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $30,000 after purchasing an additional 455 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of James Hardie Industries by 641.2% in the second quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,058 shares in the last quarter. MAI Capital Management grew its position in James Hardie Industries by 4,266.7% during the second quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock worth $35,000 after buying an additional 1,280 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in James Hardie Industries by 11,238.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after buying an additional 1,461 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in James Hardie Industries during the fourth quarter worth about $55,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

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.