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

Key Points

• Robert W. Baird lowered its price target for James Hardie Industries from $34 to $32 while maintaining an “outperform” rating, implying about 29% upside from the prior close.
• Analyst sentiment remains broadly positive, with 10 Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with an average target of $33.89. However, Citigroup downgraded the stock to Neutral and Zacks Research issued a Strong Sell rating.
• James Hardie reported quarterly EPS of $0.36 versus the $0.32 consensus and revenue of $1.47 billion, up 63.9% year over year. The stock opened at $24.77, below its 52-week high of $31.43.

James Hardie Industries (NYSE:JHX - Get Free Report) had its target price reduced by equities 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 objective would suggest a potential upside of 29.18% from the company's previous close.

JHX has been the subject of several other research reports. Citigroup lowered James Hardie Industries from a "buy" rating to a "neutral" rating in a research note on Monday, September 28th. Raymond James Financial set a $36.00 price objective on James Hardie Industries in a research report on Tuesday, October 6th. Oppenheimer reiterated an "outperform" rating and set a $36.00 price objective on shares of James Hardie Industries in a research report on Wednesday, September 16th. Stephens raised their price objective on James Hardie Industries from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Zacks Research downgraded James Hardie Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 6th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $33.89.

James Hardie Industries Stock Performance

NYSE JHX opened at $24.77 on Tuesday. 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 company has a market capitalization of $14.38 billion, a P/E ratio of 99.09, a P/E/G ratio of 2.46 and a beta of 1.79. The company has a fifty day moving average of $28.11 and a 200-day moving average of $24.67.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The firm's quarterly revenue was up 63.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. As a group, equities research analysts predict that James Hardie Industries will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of James Hardie Industries by 21.9% in the third quarter. GAMMA Investing LLC now owns 4,384 shares of the construction company's stock worth $111,000 after buying an additional 787 shares during the period. Blue Trust Inc. boosted its position in James Hardie Industries by 14.7% during the 1st quarter. Blue Trust Inc. now owns 6,890 shares of the construction company's stock valued at $130,000 after buying an additional 884 shares during the period. Parallel Advisors LLC boosted its position in James Hardie Industries by 46.5% during 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 period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in James Hardie Industries during the 1st quarter valued at $28,000. Finally, Dimensional Fund Advisors LP grew its holdings in James Hardie Industries by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 169,788 shares of the construction company's stock worth $3,205,000 after acquiring an additional 1,721 shares during the last quarter. Institutional investors own 7.96% of the company's stock.

About James Hardie Industries

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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