James Hardie Industries (NYSE:JHX) Raised to “Buy” at Bank of America

Bank of America upgraded shares of James Hardie Industries (NYSE:JHX) from an underperform rating to a buy rating in a research note published on Thursday, Briefing.com Automated Import reports.

JHX has been the topic of several other research reports. Royal Bank of Canada initiated coverage on James Hardie Industries in a report on Thursday, August 29th. They set an underperform rating on the stock. ValuEngine upgraded James Hardie Industries from a strong sell rating to a sell rating in a report on Friday, November 1st. TheStreet upgraded James Hardie Industries from a c+ rating to a b rating in a report on Friday, August 23rd. UBS Group upgraded James Hardie Industries from a neutral rating to a buy rating in a research note on Monday, August 12th. Finally, CLSA began coverage on James Hardie Industries in a research note on Monday, November 4th. They issued an underperform rating on the stock. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold.

Shares of NYSE:JHX traded up $0.12 during trading on Thursday, hitting $19.10. 13,328 shares of the company’s stock traded hands, compared to its average volume of 16,735. James Hardie Industries has a 52 week low of $10.00 and a 52 week high of $19.23. The company has a current ratio of 1.18, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 32.96 and a beta of 0.74. The company has a 50-day moving average price of $17.10 and a 200-day moving average price of $14.64.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $0.20 earnings per share for the quarter. James Hardie Industries had a return on equity of 24.50% and a net margin of 8.94%. The business had revenue of $656.80 million for the quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of James Hardie Industries by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 324,727 shares of the construction company’s stock worth $4,290,000 after purchasing an additional 10,400 shares in the last quarter. Northern Trust Corp raised its stake in shares of James Hardie Industries by 2.9% during the 2nd quarter. Northern Trust Corp now owns 435,975 shares of the construction company’s stock worth $5,759,000 after purchasing an additional 12,173 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of James Hardie Industries by 5.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,109,284 shares of the construction company’s stock worth $14,654,000 after purchasing an additional 58,449 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of James Hardie Industries by 15.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 17,407 shares of the construction company’s stock worth $229,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in shares of James Hardie Industries by 10.2% during the 3rd quarter. Wetherby Asset Management Inc. now owns 27,124 shares of the construction company’s stock worth $456,000 after purchasing an additional 2,521 shares in the last quarter. Hedge funds and other institutional investors own 0.65% of the company’s stock.

About James Hardie Industries

James Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement siding and backer board products. It operates through North America Fiber Cement, International Fiber Cement, Other Businesses, and Research and Development segments. The company offers fiber cement interior linings, exterior siding products, fiberglass windows, and related accessories products; fiber cement building materials for a range of applications, including external siding, internal walls, floors, ceilings, soffits, trim, fencing, decking, and facades; floor underlayments; planks, which are used in external siding; flat panels for internal and external wall linings; gypsum fiber boards; and cement-bonded boards.

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