Zacks Research cut shares of James Hardie Industries (NYSE:JHX – Free Report) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.
Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 11th. Barclays decreased their target price on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Truist Financial increased their target price on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.
View Our Latest Stock Analysis on JHX
James Hardie Industries Stock Performance
James Hardie Industries (NYSE:JHX – Get Free Report) last issued its quarterly earnings data on Tuesday, May 19th. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The business’s quarterly revenue was up 44.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. Analysts predict that James Hardie Industries will post 1.24 earnings per share for the current year.
Institutional Investors Weigh In On James Hardie Industries
Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in James Hardie Industries by 17.0% in the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock valued at $1,197,000 after purchasing an additional 7,396 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of James Hardie Industries by 160.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after acquiring an additional 1,662,743 shares during the period. Jane Street Group LLC grew its holdings in shares of James Hardie Industries by 222.4% in the 1st quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock worth $6,573,000 after acquiring an additional 192,478 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of James Hardie Industries by 49.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company’s stock worth $312,000 after acquiring an additional 3,827 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of James Hardie Industries by 11,238.5% during the 2nd 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 in the last quarter. 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.
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