James Hardie Industries (NYSE:JHX) Stock Picked Up by Analysts at Melius Research

Stock analysts at Melius Research initiated coverage on shares of James Hardie Industries (NYSE:JHX) in a report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $36.00 price target on the construction company’s stock. Melius Research’s price objective would suggest a potential upside of 46.58% from the stock’s previous close.

JHX has been the subject of a number of other research reports. Robert W. Baird set a $34.00 target price on James Hardie Industries in a research report on Friday, August 7th. Raymond James Financial set a $35.00 price target on shares of James Hardie Industries in a research report on Monday, August 10th. Loop Capital started coverage on shares of James Hardie Industries in a research note on Monday, September 14th. They set a “buy” rating and a $35.00 price target on the stock. Barclays upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $26.00 to $35.00 in a report on Monday, August 10th. Finally, Truist Financial upped their price objective on shares of James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.11.

James Hardie Industries Stock Down 3.8%

JHX opened at $24.56 on Tuesday. The business’s fifty day simple moving average is $28.22 and its 200 day simple moving average is $24.55. James Hardie Industries has a 52 week low of $16.46 and a 52 week high of $31.43. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The stock has a market cap of $14.25 billion, a PE ratio of 98.24, a P/E/G ratio of 2.50 and a beta of 1.79.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The company’s revenue was up 63.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, research analysts expect that James Hardie Industries will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC purchased a new stake in James Hardie Industries during the 2nd quarter valued at $196,000. The Manufacturers Life Insurance Company bought a new stake in James Hardie Industries in the 2nd quarter worth $248,000. Tidal Investments LLC bought a new stake in James Hardie Industries in the 2nd quarter worth $1,183,000. Engineers Gate Manager LP increased its position in shares of James Hardie Industries by 153.8% in the second quarter. Engineers Gate Manager LP now owns 739,441 shares of the construction company’s stock valued at $19,359,000 after acquiring an additional 448,047 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of James Hardie Industries during the second quarter valued at about $47,651,000. 7.96% of the stock is currently owned by institutional investors.

James Hardie Industries Company Profile

James Hardie Industries plc is a building materials company that manufactures and markets fiber cement and fiber gypsum products. Its products are used primarily in residential and commercial construction, including exterior siding, trim, soffits, backer board, and interior wall and flooring applications.

The company sells products under brands that include Hardie, HardiePlank, HardiePanel, and HardieBacker. Its fiber cement products are designed to provide durability and resistance to moisture, fire, pests, and weathering, serving builders, contractors, architects, and homeowners.

James Hardie traces its origins to Australia in the late 19th century and has since expanded into an international building products company.