James Hardie Industries PLC. (NYSE:JHX) Sees Large Growth in Short Interest

James Hardie Industries PLC. (NYSE:JHX) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 13,622,914 shares, a growth of 30.5% from the December 31st total of 10,442,109 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 5,846,866 shares, the short-interest ratio is presently 2.3 days. Based on an average daily trading volume, of 5,846,866 shares, the short-interest ratio is presently 2.3 days. Approximately 3.2% of the company’s stock are sold short.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JHX. Raymond James Financial set a $21.00 price target on shares of James Hardie Industries in a research note on Monday, December 8th. Robert W. Baird decreased their price objective on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Zacks Research upgraded shares of James Hardie Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Barclays initiated coverage on shares of James Hardie Industries in a report on Monday, December 8th. They issued an “equal weight” rating and a $21.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.93.

Institutional Trading of James Hardie Industries

A number of hedge funds have recently added to or reduced their stakes in JHX. Hantz Financial Services Inc. boosted its position in shares of James Hardie Industries by 641.2% in the second quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock worth $33,000 after buying an additional 1,058 shares during the period. MAI Capital Management lifted its position in shares of James Hardie Industries by 4,266.7% during the second quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock worth $35,000 after purchasing an additional 1,280 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,461 shares during the period. AlphaCore Capital LLC acquired a new stake in James Hardie Industries during the 2nd quarter valued at $52,000. Finally, Hilltop National Bank acquired a new stake in James Hardie Industries during the 4th quarter valued at $47,000. 7.96% of the stock is owned by institutional investors and hedge funds.

James Hardie Industries Price Performance

JHX stock traded down $0.02 during trading on Monday, hitting $22.98. The stock had a trading volume of 5,457,999 shares, compared to its average volume of 6,394,082. The company’s 50-day moving average price is $21.46 and its two-hundred day moving average price is $21.66. James Hardie Industries has a twelve month low of $16.46 and a twelve month high of $34.21. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.79 and a quick ratio of 1.23. The stock has a market capitalization of $9.88 billion, a P/E ratio of 47.86, a PEG ratio of 7.39 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The firm’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, research analysts predict that James Hardie Industries will post 1.39 EPS for the current fiscal year.

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.