JPMorgan Chase & Co. Upgrades James Hardie Industries (NYSE:JHX) to Overweight

James Hardie Industries (NYSE:JHX) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, Marketbeat.com reports.

Other analysts have also recently issued research reports about the stock. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, November 19th. Zacks Research raised James Hardie Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Oppenheimer increased their price target on James Hardie Industries from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Barclays began coverage on James Hardie Industries in a report on Monday, December 8th. They set an “equal weight” rating and a $21.00 price objective on the stock. Finally, Robert W. Baird lowered their target price on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. One investment 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 stock. According to data from MarketBeat.com, James Hardie Industries has an average rating of “Moderate Buy” and an average target price of $26.71.

James Hardie Industries Stock Performance

Shares of JHX stock opened at $25.76 on Wednesday. The stock has a market cap of $11.07 billion, a PE ratio of 95.41, a price-to-earnings-growth ratio of 8.28 and a beta of 1.80. The stock has a 50-day moving average of $22.20 and a 200-day moving average of $21.57. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.79 and a quick ratio of 1.23. James Hardie Industries has a one year low of $16.46 and a one year high of $33.00.

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

Institutional Trading of James Hardie Industries

A number of institutional investors have recently made changes to their positions in JHX. Hantz Financial Services Inc. grew its position in 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 boosted its stake in shares of James Hardie Industries by 4,266.7% during the 2nd 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 during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,461 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of James Hardie Industries in the fourth quarter valued at about $31,000. Finally, Global Retirement Partners LLC raised its holdings in James Hardie Industries by 3,431.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,544 shares in the last quarter. Institutional investors own 7.96% of the company’s stock.

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.