Barclays Forecasts Strong Price Appreciation for James Hardie Industries (NYSE:JHX) Stock

Key Points

• Barclays raised its price target on James Hardie Industries from $25 to $26 while keeping an “equal weight” rating, implying only modest upside from the current share price.
• Analyst sentiment is generally constructive: MarketBeat data shows an average rating of “Moderate Buy” with a consensus price target of $27.11, and several firms have recently upgraded or initiated positive coverage.
• The company’s latest quarterly results were solid, with EPS of $0.30 topping estimates and revenue rising 44.5% year over year, though the stock traded slightly lower on the day of the report.

James Hardie Industries (NYSE:JHX - Get Free Report) had its target price boosted by investment analysts at Barclays from $25.00 to $26.00 in a report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the construction company's stock. Barclays's price objective would indicate a potential upside of 0.90% from the company's current price.

Several other equities analysts also recently commented on JHX. Zacks Research raised James Hardie Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Stephens initiated coverage on shares of James Hardie Industries in a report on Thursday, June 25th. They issued an "overweight" rating and a $31.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, James Hardie Industries currently has an average rating of "Moderate Buy" and an average price target of $27.11.

James Hardie Industries Trading Down 0.4%

James Hardie Industries stock traded down $0.09 during midday trading on Friday, reaching $25.77. The stock had a trading volume of 392,437 shares, compared to its average volume of 7,047,983. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 116.96 and a beta of 1.77. James Hardie Industries has a 52-week low of $16.46 and a 52-week high of $29.83. The company has a fifty day moving average of $23.97 and a 200 day moving average of $22.67.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The company's revenue for the quarter was up 44.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, analysts anticipate that James Hardie Industries will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors have recently bought and sold shares of the business. 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. Xponance LLC boosted its position in James Hardie Industries by 5.7% during the fourth quarter. Xponance LLC now owns 16,879 shares of the construction company's stock valued at $350,000 after purchasing an additional 911 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in James Hardie Industries by 16.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,684 shares of the construction company's stock valued at $139,000 after purchasing an additional 936 shares during the last quarter. Osaic Holdings Inc. raised its holdings in James Hardie Industries by 67.1% in the second quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company's stock worth $67,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in James Hardie Industries by 46.5% in the first quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company's stock worth $86,000 after purchasing an additional 1,439 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.

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