James Hardie Industries (NYSE:JHX) Cut to Hold at Zacks Research

Zacks Research cut shares of James Hardie Industries (NYSE:JHX) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

JHX has been the topic of several other research reports. Robert W. Baird decreased their price target on shares of James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Citigroup raised James Hardie Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 4th. Truist Financial lifted their price objective on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Raymond James Financial set a $21.00 price objective on James Hardie Industries in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 11th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

James Hardie Industries Stock Performance

NYSE JHX opened at $24.96 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73. James Hardie Industries has a twelve month low of $16.46 and a twelve month high of $32.91. The business has a 50-day moving average price of $22.76 and a 200-day moving average price of $21.53. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 92.44, a price-to-earnings-growth ratio of 5.61 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last announced 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 13.52%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was up 30.1% on a year-over-year basis. As a group, equities research analysts predict that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of James Hardie Industries by 7.0% in the third quarter. Jones Financial Companies Lllp now owns 8,029 shares of the construction company’s stock valued at $151,000 after acquiring an additional 525 shares in the last quarter. Greenleaf Trust raised its stake in James Hardie Industries by 7.1% in the third quarter. Greenleaf Trust now owns 10,645 shares of the construction company’s stock worth $204,000 after buying an additional 703 shares in the last quarter. Xponance LLC lifted its holdings in James Hardie Industries by 5.7% during the fourth quarter. Xponance LLC now owns 16,879 shares of the construction company’s stock worth $350,000 after buying an additional 911 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in James Hardie Industries by 16.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,684 shares of the construction company’s stock worth $139,000 after buying an additional 936 shares during the period. Finally, Osaic Holdings Inc. boosted its position in James Hardie Industries by 67.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company’s stock valued at $67,000 after acquiring an additional 1,034 shares in the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

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.