James Hardie Industries (NYSE:JHX) Stock Price Down 5.7% – What’s Next?

James Hardie Industries PLC. (NYSE:JHX)’s stock price fell 5.7% during mid-day trading on Wednesday . The stock traded as low as $20.06 and last traded at $20.0040. 5,326,332 shares changed hands during trading, a decline of 20% from the average session volume of 6,663,235 shares. The stock had previously closed at $21.21.

Wall Street Analyst Weigh In

Several research firms have issued reports on JHX. Zacks Research downgraded James Hardie Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Barclays reduced their price target on James Hardie Industries from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Finally, Truist Financial raised their price target on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.13.

James Hardie Industries Price Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54. The firm has a market capitalization of $9.34 billion, a P/E ratio of 80.46, a price-to-earnings-growth ratio of 3.73 and a beta of 1.84. The company has a 50-day moving average price of $21.65 and a 200-day moving average price of $21.13.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. James Hardie Industries had a return on equity of 13.52% and a net margin of 2.70%.The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company earned $0.36 EPS. The firm’s revenue was up 30.1% on a year-over-year basis. On average, sell-side analysts predict that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

Institutional Trading of James Hardie Industries

Several hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its stake in James Hardie Industries by 7.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 8,029 shares of the construction company’s stock worth $151,000 after buying an additional 525 shares during the period. Greenleaf Trust raised its stake in James Hardie Industries by 7.1% during the 3rd quarter. Greenleaf Trust now owns 10,645 shares of the construction company’s stock worth $204,000 after buying an additional 703 shares during the period. Xponance LLC raised its stake in James Hardie Industries by 5.7% during the 4th 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. raised its stake in James Hardie Industries by 16.3% during the 4th 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. raised its stake 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 worth $67,000 after buying an additional 1,034 shares during the period. Institutional investors and hedge funds own 7.96% of the company’s stock.

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.