James Hardie Industries PLC. (NYSE:JHX) Sees Large Decrease in Short Interest

James Hardie Industries PLC. (NYSE:JHX) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 10,442,109 shares, a decline of 32.5% from the December 15th total of 15,472,151 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average daily volume of 4,095,908 shares, the short-interest ratio is currently 2.5 days. Based on an average daily volume of 4,095,908 shares, the short-interest ratio is currently 2.5 days. Approximately 2.4% of the company’s shares are sold short.

James Hardie Industries Trading Down 1.4%

Shares of JHX traded down $0.33 during mid-day trading on Friday, hitting $23.67. 6,691,745 shares of the company’s stock traded hands, compared to its average volume of 4,497,082. The company has a quick ratio of 1.23, a current ratio of 1.79 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $10.17 billion, a P/E ratio of 49.31, a PEG ratio of 8.95 and a beta of 1.80. The business’s 50-day moving average price is $20.07 and its 200-day moving average price is $22.04. James Hardie Industries has a 1 year low of $16.46 and a 1 year high of $34.96.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Monday, November 17th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The firm’s revenue was up 34.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, sell-side analysts forecast that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC lifted its holdings 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 buying an additional 455 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of James Hardie Industries by 641.2% in the 2nd 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 during the period. MAI Capital Management boosted its position in shares of James Hardie Industries by 4,266.7% during the second quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock valued at $35,000 after purchasing an additional 1,280 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in 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 worth $40,000 after purchasing an additional 1,461 shares during the period. Finally, AlphaCore Capital LLC purchased a new stake in James Hardie Industries in the second quarter worth $52,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JHX shares. Oppenheimer lifted their price objective on James Hardie Industries from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Wolfe Research initiated coverage on James Hardie Industries in a research note on Tuesday, September 30th. They issued an “outperform” rating and a $25.00 price target on the stock. Barclays began coverage on James Hardie Industries in a research note on Monday, December 8th. They set an “equal weight” rating and a $21.00 price objective for the company. CLSA upgraded shares of James Hardie Industries to a “hold” rating in a report on Wednesday, October 8th. Finally, Raymond James Financial set a $21.00 price target on shares of James Hardie Industries in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.93.

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.