Shares of James Hardie Industries PLC. (NYSE:JHX – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.96 and traded as high as $26.70. James Hardie Industries shares last traded at $26.0390, with a volume of 8,923,839 shares.
Analysts Set New Price Targets
JHX has been the topic of several research analyst reports. Zacks Research cut shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. Stephens started coverage on James Hardie Industries in a report on Thursday. They issued an “overweight” rating and a $31.00 price objective for the company. Finally, Barclays cut their price objective on James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.56.
Get Our Latest Analysis on JHX
James Hardie Industries Stock Performance
James Hardie Industries (NYSE:JHX – Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The company’s revenue for the quarter was up 44.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, equities analysts expect that James Hardie Industries PLC. will post 1.24 EPS for the current year.
Hedge Funds Weigh In On James Hardie Industries
Several institutional investors have recently made changes to their positions in JHX. Wellington Management Group LLP raised its position in shares of James Hardie Industries by 259.7% during the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after purchasing an additional 36,567,726 shares during the period. JPMorgan Chase & Co. grew its stake in James Hardie Industries by 22.2% during the 4th quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company’s stock worth $201,071,000 after buying an additional 1,758,111 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in James Hardie Industries by 14.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,166,115 shares of the construction company’s stock worth $107,197,000 after buying an additional 634,354 shares during the last quarter. Hill City Capital LP grew its stake in James Hardie Industries by 21.4% during the 4th quarter. Hill City Capital LP now owns 5,120,200 shares of the construction company’s stock worth $106,244,000 after buying an additional 901,700 shares during the last quarter. Finally, Capital World Investors acquired a new stake in James Hardie Industries in the third quarter worth $86,121,000. 7.96% of the stock is owned by institutional investors.
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.
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