James Hardie Industries (NYSE:JHX) Upgraded at Zacks Research

James Hardie Industries (NYSE:JHXGet Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Barclays upped their price target on shares of James Hardie Industries from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday. Stephens initiated coverage on James Hardie Industries in a report on Thursday, June 25th. They issued an “overweight” rating and a $31.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, James Hardie Industries has a consensus rating of “Moderate Buy” and an average target price of $27.00.

View Our Latest Stock Report on James Hardie Industries

James Hardie Industries Stock Up 6.0%

Shares of JHX opened at $25.75 on Monday. James Hardie Industries has a 1 year low of $16.46 and a 1 year high of $29.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $23.25 and a two-hundred day simple moving average of $22.43. The firm has a market cap of $14.94 billion, a P/E ratio of 117.03 and a beta of 1.77.

James Hardie Industries (NYSE:JHXGet Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue was up 44.5% compared to the same quarter last year. On average, analysts forecast that James Hardie Industries will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB bought a new position in shares of James Hardie Industries during the second quarter valued at about $5,459,000. Breakwater Capital Group bought a new stake in shares of James Hardie Industries in the second quarter worth about $273,000. Parallel Advisors LLC increased its holdings in James Hardie Industries by 46.5% during the 1st quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock valued at $86,000 after purchasing an additional 1,439 shares during the period. Segall Bryant & Hamill LLC increased its holdings in James Hardie Industries by 19.8% during the 1st quarter. Segall Bryant & Hamill LLC now owns 420,152 shares of the construction company’s stock valued at $7,958,000 after purchasing an additional 69,449 shares during the period. Finally, Bank of America Corp DE raised its position in James Hardie Industries by 81.6% during the 1st quarter. Bank of America Corp DE now owns 1,512,821 shares of the construction company’s stock valued at $28,653,000 after purchasing an additional 679,728 shares during the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

About James Hardie Industries

(Get Free Report)

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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Analyst Recommendations for James Hardie Industries (NYSE:JHX)

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