James Hardie Industries (NYSE:JHX) Stock Crosses Above 50 Day Moving Average – Here’s Why

Shares of James Hardie Industries PLC. (NYSE:JHX) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $27.01 and traded as high as $27.33. James Hardie Industries shares last traded at $27.23, with a volume of 7,340,483 shares.

Analyst Upgrades and Downgrades

JHX has been the subject of several research reports. Stephens lifted their price objective on James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Robert W. Baird reduced their target price on James Hardie Industries from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Loop Capital initiated coverage on shares of James Hardie Industries in a report on Monday, September 14th. They set a “buy” rating and a $35.00 price target for the company. Melius Research began coverage on shares of James Hardie Industries in a research report on Tuesday, October 6th. They set a “buy” rating and a $36.00 price target for the company. Finally, Raymond James Financial set a $36.00 target price on James Hardie Industries in a report on Tuesday, October 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.89.

James Hardie Industries Trading Up 1.1%

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59. The company has a market capitalization of $15.80 billion, a price-to-earnings ratio of 108.92, a price-to-earnings-growth ratio of 2.78 and a beta of 1.79. The business’s 50 day moving average price is $27.01 and its two-hundred day moving average price is $24.38.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 63.9% on a year-over-year basis. Equities analysts forecast that James Hardie Industries PLC. will post 1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of James Hardie Industries by 21.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,384 shares of the construction company’s stock valued at $111,000 after buying an additional 787 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in James Hardie Industries by 10.8% in the third quarter. Oppenheimer & Co. Inc. now owns 10,000 shares of the construction company’s stock valued at $253,000 after purchasing an additional 978 shares during the last quarter. Root Financial Partners LLC bought a new stake in James Hardie Industries during the 3rd quarter worth approximately $27,000. Reyes Financial Architecture Inc. bought a new stake in James Hardie Industries in the 3rd quarter valued at approximately $36,000. Finally, Parallel Advisors LLC boosted its holdings in shares of James Hardie Industries by 46.5% in the 1st quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock valued at $86,000 after buying an additional 1,439 shares during the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

James Hardie Industries Company Profile

James Hardie Industries plc is a global building materials manufacturer specializing in fiber cement products. Its portfolio includes exterior siding, trim, soffits, backer board and related solutions used in residential and commercial construction, remodeling and repair projects.

The company markets products under brands including James Hardie, HardiePlank, HardiePanel and HardieBacker. Fiber cement is designed to provide durability and resistance to moisture, fire, pests and changing weather conditions, making it an alternative to materials such as wood, vinyl and traditional cement products.

Founded in Australia in 1888, James Hardie has expanded into an international building products business serving customers across North America, Australia and New Zealand, Europe and other selected markets.