James Hardie Industries (NYSE:JHX) Announces Quarterly Earnings Results

James Hardie Industries (NYSE:JHX) issued its earnings results on Tuesday. The construction company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36, Zacks reports. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%.

James Hardie Industries Stock Down 2.1%

Shares of James Hardie Industries stock traded down $0.52 on Tuesday, hitting $24.73. The company had a trading volume of 2,334,147 shares, compared to its average volume of 623,473. The firm has a market capitalization of $10.63 billion, a P/E ratio of 24.49, a P/E/G ratio of 6.16 and a beta of 1.80. James Hardie Industries has a twelve month low of $19.72 and a twelve month high of $43.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50. The stock has a 50-day moving average of $24.44 and a 200-day moving average of $30.11.

Analyst Upgrades and Downgrades

Several brokerages have commented on JHX. Truist Financial set a $45.00 target price on shares of James Hardie Industries in a research note on Monday, March 24th. Macquarie cut shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a report on Monday, March 24th. Bank of America upgraded shares of James Hardie Industries from an “underperform” rating to a “buy” rating and reduced their price target for the company from $27.40 to $27.35 in a report on Thursday, March 27th. StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Finally, Raymond James set a $55.00 price target on shares of James Hardie Industries in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.45.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in James Hardie Industries by 17.0% during the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock worth $1,197,000 after purchasing an additional 7,396 shares during the last quarter. Jane Street Group LLC boosted its holdings in James Hardie Industries by 222.4% during the first quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock worth $6,573,000 after purchasing an additional 192,478 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in James Hardie Industries by 160.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after purchasing an additional 1,662,743 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.