James Hardie Industries (NYSE:JHX) Hits New 52-Week Low - What's Next?

Key Points

• James Hardie Industries' shares recently hit a new 52-week low of $17.85, closing at $18.40, with a trading volume of 760,780 shares.
• Analysts have mixed ratings on the stock, with one as a Strong Buy, eight as Buy, and one as Hold, while the consensus price target is $33.27.
• The company reported $0.29 earnings per share for the last quarter, missing analyst estimates of $0.36, with revenue down 9.3% year-over-year.

Shares of James Hardie Industries PLC. (NYSE:JHX - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $17.85 and last traded at $18.40, with a volume of 760780 shares. The stock had previously closed at $18.23.

Wall Street Analyst Weigh In

JHX has been the topic of several recent research reports. Baird R W upgraded shares of James Hardie Industries to a "strong-buy" rating in a research report on Friday, July 11th. Jefferies Financial Group started coverage on shares of James Hardie Industries in a research note on Friday, August 8th. They set a "buy" rating and a $34.00 price objective on the stock. UBS Group reiterated a "neutral" rating on shares of James Hardie Industries in a research note on Thursday, August 21st. Robert W. Baird decreased their target price on shares of James Hardie Industries from $32.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, August 20th. Finally, Macquarie raised shares of James Hardie Industries from a "neutral" rating to an "outperform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, James Hardie Industries has an average rating of "Buy" and a consensus price target of $33.27.

James Hardie Industries Trading Up 0.6%

The company's 50-day moving average is $23.48 and its 200 day moving average is $24.65. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.27 and a beta of 1.74. The company has a quick ratio of 3.31, a current ratio of 3.76 and a debt-to-equity ratio of 1.12.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Tuesday, August 19th. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The company had revenue of $899.90 million during the quarter, compared to analyst estimates of $982.60 million. During the same quarter last year, the business earned $0.41 EPS. The firm's revenue for the quarter was down 9.3% compared to the same quarter last year. Research analysts predict that James Hardie Industries PLC. will post 1.39 EPS for the current year.

Hedge Funds Weigh In On James Hardie Industries

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in James Hardie Industries by 67.1% during 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 during the period. Orion Porfolio Solutions LLC grew its holdings in James Hardie Industries by 91.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 67,263 shares of the construction company's stock worth $1,809,000 after acquiring an additional 32,107 shares in the last quarter. Hudson Bay Capital Management LP grew its holdings in James Hardie Industries by 430.8% during the 2nd quarter. Hudson Bay Capital Management LP now owns 265,398 shares of the construction company's stock worth $7,137,000 after acquiring an additional 215,398 shares in the last quarter. Rexford Capital Inc. acquired a new position in James Hardie Industries during the 2nd quarter worth approximately $129,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of James Hardie Industries by 95,062.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 22,839 shares of the construction company's stock worth $614,000 after buying an additional 22,815 shares during 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 manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.

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