James Hardie Industries (NYSE:JHX) Now Covered by Melius Research

Key Points

• Melius Research initiated coverage of James Hardie Industries with a “buy” rating and a $36 price target, implying approximately 42.8% upside from the reported $25.21 share price.
• Analyst sentiment is broadly positive: 10 analysts rate the stock a Buy and three rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $34.
• James Hardie exceeded quarterly expectations, reporting $0.36 in EPS versus a $0.32 consensus estimate and $1.47 billion in revenue, up 63.9% year over year.

Equities research analysts at Melius Research initiated coverage on shares of James Hardie Industries (NYSE:JHX - Get Free Report) in a research note issued on Tuesday, Briefing.com reports. The brokerage set a "buy" rating and a $36.00 price target on the construction company's stock. Melius Research's price objective suggests a potential upside of 42.81% from the stock's current price.

A number of other equities analysts also recently weighed in on JHX. Zacks Research upgraded shares of James Hardie Industries from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Oppenheimer reiterated an "outperform" rating and issued a $36.00 price target on shares of James Hardie Industries in a research note on Wednesday, September 16th. Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a research note on Monday, August 10th. UBS Group reaffirmed a "buy" rating on shares of James Hardie Industries in a report on Wednesday, September 16th. Finally, Citigroup cut James Hardie Industries from a "buy" rating to a "neutral" rating in a report on Monday, September 28th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.00.

James Hardie Industries Stock Performance

Shares of NYSE JHX opened at $25.21 on Tuesday. The stock has a 50 day moving average price of $28.28 and a 200 day moving average price of $24.47. James Hardie Industries has a 52 week low of $16.46 and a 52 week high of $31.43. 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 stock has a market capitalization of $14.63 billion, a PE ratio of 100.84, a price-to-earnings-growth ratio of 2.45 and a beta of 1.79.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, topping 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 firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. The business's quarterly revenue was up 63.9% on a year-over-year basis. Analysts predict that James Hardie Industries will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

Institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP increased its stake in James Hardie Industries by 153.8% during the 2nd quarter. Engineers Gate Manager LP now owns 739,441 shares of the construction company's stock worth $19,359,000 after acquiring an additional 448,047 shares during the period. Fund 1 Investments LLC acquired a new stake in shares of James Hardie Industries during the 2nd quarter worth $1,047,000. Handelsbanken Fonder AB acquired a new stake in shares of James Hardie Industries during the 2nd quarter worth $5,459,000. Capula Management Ltd bought a new position in shares of James Hardie Industries in the first quarter worth $6,620,000. Finally, Squarepoint Ops LLC bought a new position in shares of James Hardie Industries in the second quarter worth $47,651,000. Institutional investors own 7.96% of the company's stock.

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.

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