Short Interest in James Hardie Industries PLC. (NYSE:JHX) Rises By 34.9%

James Hardie Industries PLC. (NYSE:JHX) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 19,326,133 shares, a growth of 34.9% from the March 15th total of 14,325,330 shares. Based on an average daily volume of 7,802,512 shares, the days-to-cover ratio is currently 2.5 days. Approximately 4.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Modus Advisors LLC acquired a new position in shares of James Hardie Industries during the fourth quarter worth about $31,000. Global Retirement Partners LLC lifted its stake in shares of James Hardie Industries by 3,431.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock worth $33,000 after purchasing an additional 1,544 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of James Hardie Industries by 11,238.5% during the second 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. 1620 Investment Advisors Inc. acquired a new position in shares of James Hardie Industries during the fourth quarter worth about $41,000. Finally, Hilltop National Bank acquired a new position in shares of James Hardie Industries during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

Analysts Set New Price Targets

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

James Hardie Industries Trading Up 8.2%

James Hardie Industries stock traded up $1.64 during midday trading on Friday, reaching $21.72. The stock had a trading volume of 10,062,275 shares, compared to its average volume of 6,716,650. James Hardie Industries has a twelve month low of $16.46 and a twelve month high of $29.83. The stock has a market capitalization of $9.34 billion, a PE ratio of 80.46, a price-to-earnings-growth ratio of 3.73 and a beta of 1.84. 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 stock’s 50-day simple moving average is $21.65 and its 200 day simple moving average is $21.13.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. Analysts expect that James Hardie Industries will post 1.39 EPS for the current year.

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.