James Hardie Industries PLC. (NYSE:JHX) Receives Average Rating of “Moderate Buy” from Brokerages

James Hardie Industries PLC. (NYSE:JHX) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $27.00.

Several research analysts have commented on the stock. Stephens initiated coverage on shares of James Hardie Industries in a research report on Thursday, June 25th. They issued an “overweight” rating and a $31.00 target price for the company. Barclays raised their target price on shares of James Hardie Industries from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Zacks Research raised shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday.

James Hardie Industries Trading Up 2.4%

NYSE JHX opened at $26.93 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.58. The company has a 50-day simple moving average of $23.47 and a 200-day simple moving average of $22.51. James Hardie Industries has a one year low of $16.46 and a one year high of $29.83. The firm has a market capitalization of $15.63 billion, a PE ratio of 122.41 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 44.5% on a year-over-year basis. On average, equities analysts forecast that James Hardie Industries will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JHX. Royal Bank of Canada grew its stake in shares of James Hardie Industries by 17.0% in the 1st quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock worth $1,197,000 after purchasing an additional 7,396 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of James Hardie Industries by 160.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after acquiring an additional 1,662,743 shares during the last quarter. Jane Street Group LLC raised its position in shares of James Hardie Industries by 222.4% during the first quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock worth $6,573,000 after purchasing an additional 192,478 shares during the period. Russell Investments Group Ltd. raised its position in shares of James Hardie Industries by 49.2% during the second quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company’s stock worth $312,000 after purchasing an additional 3,827 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 valued at $40,000 after purchasing an additional 1,461 shares during the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

About James Hardie Industries

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.