James Hardie Industries (NYSE:JHX) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of James Hardie Industries (NYSE:JHX) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

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

James Hardie Industries Trading Up 6.0%

NYSE:JHX opened at $25.75 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.58. The firm has a market cap of $14.94 billion, a price-to-earnings ratio of 117.03 and a beta of 1.77. James Hardie Industries has a 52 week low of $16.46 and a 52 week high of $29.83. The firm has a 50-day moving average price of $23.25 and a two-hundred day moving average price of $22.43.

James Hardie Industries (NYSE:JHX) last posted its 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. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 44.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. On average, equities analysts expect that James Hardie Industries will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in James Hardie Industries by 259.7% in the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after buying an additional 36,567,726 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 valued at $201,071,000 after buying an additional 1,758,111 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of 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 acquiring an additional 634,354 shares during the period. Hill City Capital LP grew its stake in shares of 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 acquiring an additional 901,700 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of James Hardie Industries by 48.5% during the 1st quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock worth $72,720,000 after acquiring an additional 1,254,400 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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.