Truist Financial Issues Pessimistic Forecast for James Hardie Industries (NYSE:JHX) Stock Price

James Hardie Industries (NYSE:JHX - Free Report) had its target price cut by Truist Financial from $45.00 to $35.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the construction company's stock.

Other analysts have also recently issued research reports about the stock. Macquarie cut shares of James Hardie Industries from an "outperform" rating to a "neutral" rating in a research note on Monday, March 24th. Raymond James set a $55.00 price target on shares of James Hardie Industries in a report on Monday, March 24th. Wall Street Zen upgraded shares of James Hardie Industries from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. Jefferies Financial Group reiterated a "buy" rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Finally, Bank of America raised James Hardie Industries from an "underperform" rating to a "buy" rating and reduced their price target for the company from $27.40 to $27.35 in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.12.

James Hardie Industries Stock Performance

James Hardie Industries stock traded down $0.34 during mid-day trading on Wednesday, reaching $23.42. 2,975,310 shares of the company were exchanged, compared to its average volume of 676,180. The firm's 50-day simple moving average is $23.80 and its two-hundred day simple moving average is $29.88. James Hardie Industries has a twelve month low of $19.72 and a twelve month high of $43.57. The firm has a market cap of $10.07 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 6.16 and a beta of 1.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.18.

James Hardie Industries (NYSE:JHX - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The construction company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The company had revenue of $971.50 million for the quarter, compared to analysts' expectations of $983.86 million. During the same quarter last year, the company earned $1.61 EPS. James Hardie Industries's revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts predict that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC raised its holdings in James Hardie Industries by 45.3% during the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company's stock worth $30,000 after purchasing an additional 303 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of James Hardie Industries by 12.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company's stock worth $89,000 after buying an additional 397 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of James Hardie Industries by 0.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 52,416 shares of the construction company's stock worth $1,615,000 after buying an additional 420 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of James Hardie Industries by 2.5% in the 4th quarter. Sanctuary Advisors LLC now owns 18,074 shares of the construction company's stock worth $616,000 after buying an additional 433 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in James Hardie Industries by 9.5% in the 4th quarter. Russell Investments Group Ltd. now owns 5,220 shares of the construction company's stock valued at $161,000 after acquiring an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 7.96% of the company's stock.

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.