Barclays Issues Positive Forecast for James Hardie Industries (NYSE:JHX) Stock Price

James Hardie Industries (NYSE:JHX) had its price objective hoisted by Barclays from $21.00 to $26.00 in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has an equal weight rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. Truist Financial upped their target price on James Hardie Industries from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 19th. Raymond James Financial set a $21.00 price target on shares of James Hardie Industries in a report on Monday, December 8th. Finally, Robert W. Baird decreased their price objective on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, James Hardie Industries has an average rating of “Moderate Buy” and a consensus price target of $26.71.

James Hardie Industries Stock Down 0.9%

Shares of NYSE JHX opened at $25.76 on Thursday. James Hardie Industries has a 12-month low of $16.46 and a 12-month high of $33.00. The stock has a market cap of $11.07 billion, a PE ratio of 95.41, a P/E/G ratio of 8.28 and a beta of 1.80. The company has a current ratio of 1.79, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $22.20 and a 200 day moving average of $21.57.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.21 billion. James Hardie Industries had a return on equity of 16.18% and a net margin of 2.70%.The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, sell-side analysts predict that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JHX. Jones Financial Companies Lllp increased its stake in shares of James Hardie Industries by 7.0% during the third quarter. Jones Financial Companies Lllp now owns 8,029 shares of the construction company’s stock worth $151,000 after buying an additional 525 shares during the period. Legacy Wealth Asset Management LLC increased its position in shares of James Hardie Industries by 2.9% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 19,203 shares of the construction company’s stock valued at $516,000 after purchasing an additional 540 shares during the last quarter. Greenleaf Trust increased its position in shares of James Hardie Industries by 7.1% in the 3rd quarter. Greenleaf Trust now owns 10,645 shares of the construction company’s stock valued at $204,000 after purchasing an additional 703 shares during the last quarter. Xponance LLC raised its holdings in shares of James Hardie Industries by 5.7% in the 4th quarter. Xponance LLC now owns 16,879 shares of the construction company’s stock valued at $350,000 after purchasing an additional 911 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of James Hardie Industries by 16.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,684 shares of the construction company’s stock worth $139,000 after purchasing an additional 936 shares during the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

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.