James Hardie Industries (NYSE:JHX) Hits New 1-Year High - What's Next?

Key Points

• James Hardie Industries reached a new 52-week high of $31.24, closing near $30.78, with shares trading well above their 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: nine analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $32.50. Several firms recently raised their targets, including Truist to $40 and Oppenheimer to $36.
• The company exceeded quarterly expectations, reporting EPS of $0.36 versus a $0.32 consensus and revenue of $1.47 billion, up 63.9% year over year. Institutional investors own 7.96% of the stock, with Wellington Management significantly increasing its position.

Shares of James Hardie Industries PLC. (NYSE:JHX - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $31.24 and last traded at $30.78, with a volume of 5451763 shares trading hands. The stock had previously closed at $31.08.

Analyst Upgrades and Downgrades

JHX has been the subject of a number of research reports. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a report on Friday, August 7th. Truist Financial boosted their target price on shares of James Hardie Industries from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Oppenheimer upped their price target on shares of James Hardie Industries from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Barclays raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $26.00 to $35.00 in a research note on Monday. Finally, Zacks Research upgraded shares of James Hardie Industries from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, James Hardie Industries has an average rating of "Moderate Buy" and an average target price of $32.50.

James Hardie Industries Stock Performance

The stock has a 50 day moving average of $25.84 and a 200 day moving average of $23.19. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 123.12, a price-to-earnings-growth ratio of 1.95 and a beta of 1.77.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The company's revenue for the quarter was up 63.9% on a year-over-year basis. As a group, analysts predict that James Hardie Industries PLC. will post 1.43 EPS for the current year.

Institutional Trading of James Hardie Industries

A number of institutional investors have recently bought and sold shares of JHX. Wellington Management Group LLP raised its position in shares of James Hardie Industries by 259.7% in the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company's stock worth $972,981,000 after acquiring an additional 36,567,726 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of James Hardie Industries during the 4th quarter valued at about $77,530,000. RDST Capital LLC acquired a new stake in James Hardie Industries during the fourth quarter worth approximately $55,893,000. Renaissance Technologies LLC acquired a new stake in James Hardie Industries during the fourth quarter worth approximately $53,641,000. Finally, Alyeska Investment Group L.P. increased its holdings in James Hardie Industries by 100.9% in the third quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company's stock worth $87,055,000 after purchasing an additional 2,275,762 shares in the last quarter. Institutional investors own 7.96% of the company's stock.

About James Hardie Industries

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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