James Hardie Industries (NYSE:JHX) Cut to Strong Sell at Zacks Research

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

Several other equities analysts have also recently issued reports on the company. UBS Group restated a “buy” rating on shares of James Hardie Industries in a research report on Wednesday, September 16th. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price objective on shares of James Hardie Industries in a research report on Wednesday, September 16th. Loop Capital assumed coverage on James Hardie Industries in a research note on Monday, September 14th. They issued a “buy” rating and a $35.00 target price on the stock. Robert W. Baird set a $34.00 target price on James Hardie Industries in a report on Friday, August 7th. Finally, Melius Research assumed coverage on James Hardie Industries in a research note on Tuesday. They set a “buy” rating and a $36.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, James Hardie Industries presently has a consensus rating of “Moderate Buy” and an average target price of $34.11.

James Hardie Industries Trading Up 2.2%

NYSE JHX opened at $25.15 on Tuesday. 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 firm has a market cap of $14.59 billion, a PE ratio of 100.58, a P/E/G ratio of 2.41 and a beta of 1.79. James Hardie Industries has a one year low of $16.46 and a one year high of $31.43. The firm’s fifty day moving average is $28.19 and its two-hundred day moving average is $24.59.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The business’s revenue was up 63.9% compared to the same quarter last year. Analysts expect that James Hardie Industries will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

A number of large investors have recently modified their holdings of JHX. Squarepoint Ops LLC purchased a new position in James Hardie Industries in the second quarter worth $47,651,000. Renaissance Technologies LLC boosted its position 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 purchasing an additional 1,254,400 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in shares of James Hardie Industries by 12.3% during the 2nd quarter. Alyeska Investment Group L.P. now owns 8,737,905 shares of the construction company’s stock worth $228,758,000 after purchasing an additional 954,317 shares in the last quarter. Senator Investment Group LP boosted its position in shares of James Hardie Industries by 99.8% during the 4th quarter. Senator Investment Group LP now owns 1,825,797 shares of the construction company’s stock worth $37,885,000 after purchasing an additional 911,860 shares in the last quarter. Finally, RDST Capital LLC grew its stake in shares of James Hardie Industries by 24.0% during the 2nd quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company’s stock worth $105,114,000 after purchasing an additional 776,950 shares during the period. 7.96% of the stock is owned by hedge funds and other 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.