James Hardie Industries (NYSE:JHX) Upgraded by CLSA to Hold Rating

James Hardie Industries (NYSE:JHX) was upgraded by equities researchers at CLSA to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on JHX. Jefferies Financial Group assumed coverage on shares of James Hardie Industries in a research report on Friday, August 8th. They set a “buy” rating and a $34.00 target price for the company. Baird R W upgraded shares of James Hardie Industries to a “strong-buy” rating in a research report on Friday, July 11th. Macquarie raised James Hardie Industries from a “neutral” rating to an “outperform” rating in a report on Monday, July 28th. William Blair began coverage on James Hardie Industries in a report on Friday, June 27th. They issued an “outperform” rating on the stock. Finally, Truist Financial lifted their target price on James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.39.

James Hardie Industries Price Performance

NYSE:JHX opened at $21.32 on Wednesday. The company has a quick ratio of 3.31, a current ratio of 3.76 and a debt-to-equity ratio of 1.12. The business’s 50-day simple moving average is $21.90 and its two-hundred day simple moving average is $23.84. The stock has a market cap of $9.16 billion, a PE ratio of 27.69, a P/E/G ratio of 12.63 and a beta of 1.79. James Hardie Industries has a 52 week low of $17.85 and a 52 week high of $37.77.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, August 19th. The construction company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $899.90 million for the quarter, compared to the consensus estimate of $982.60 million. James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. James Hardie Industries’s revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, analysts forecast that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

Several large investors have recently made changes to their positions in JHX. Smartleaf Asset Management LLC grew its position in James Hardie Industries by 12.1% in the first quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company’s stock worth $89,000 after acquiring an additional 397 shares in the last quarter. TD Private Client Wealth LLC grew its position in James Hardie Industries by 70.4% in the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock worth $30,000 after acquiring an additional 455 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in James Hardie Industries by 2.9% in the second quarter. Legacy Wealth Asset Management LLC now owns 19,203 shares of the construction company’s stock worth $516,000 after acquiring an additional 540 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in James Hardie Industries by 7.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 10,687 shares of the construction company’s stock worth $252,000 after acquiring an additional 719 shares in the last quarter. Finally, Rhumbline Advisers grew its position in James Hardie Industries by 10.3% in the first quarter. Rhumbline Advisers now owns 10,694 shares of the construction company’s stock worth $252,000 after acquiring an additional 999 shares in the last quarter. 7.96% of the stock is owned by institutional investors.

About James Hardie Industries

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.