Robert W. Baird Issues Pessimistic Forecast for James Hardie Industries (NYSE:JHX) Stock Price

James Hardie Industries (NYSE:JHX) had its target price cut by research analysts at Robert W. Baird from $34.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target indicates a potential upside of 29.18% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Truist Financial boosted their target price on James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Barclays upgraded James Hardie Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $26.00 to $35.00 in a report on Monday, August 10th. Raymond James Financial set a $36.00 price target on James Hardie Industries in a research note on Tuesday, October 6th. Melius Research initiated coverage on shares of James Hardie Industries in a report on Tuesday, October 6th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Stephens boosted their price objective on shares of James Hardie Industries from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.89.

James Hardie Industries Stock Down 1.4%

Shares of NYSE:JHX opened at $24.77 on Tuesday. James Hardie Industries has a 1 year low of $16.46 and a 1 year high of $31.43. The company has a market cap of $14.38 billion, a PE ratio of 99.09, a P/E/G ratio of 2.46 and a beta of 1.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03. The stock’s 50-day moving average is $28.11 and its 200 day moving average is $24.67.

James Hardie Industries (NYSE:JHX) last released its quarterly 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 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 analyst estimates of $1.42 billion. During the same quarter in the prior year, the company posted $0.29 EPS. James Hardie Industries’s quarterly revenue was up 63.9% compared to the same quarter last year. Sell-side analysts anticipate that James Hardie Industries will post 1.24 EPS for the current year.

Institutional Trading of James Hardie Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in James Hardie Industries during the 1st quarter valued at approximately $28,000. MidFirst Bank purchased a new position in shares of James Hardie Industries during the 4th quarter worth approximately $65,000. Parallel Advisors LLC grew its holdings in shares of James Hardie Industries by 46.5% during the 1st quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock worth $86,000 after acquiring an additional 1,439 shares during the period. GAMMA Investing LLC raised its position 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 worth $111,000 after acquiring an additional 787 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of James Hardie Industries by 14.7% in the 1st quarter. Blue Trust Inc. now owns 6,890 shares of the construction company’s stock worth $130,000 after acquiring an additional 884 shares in 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 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.