James Hardie Industries (NYSE:JHX) Price Target Cut to $35.00 by Analysts at Truist Financial

James Hardie Industries (NYSE:JHX - Get Free Report) had its price target decreased by analysts at Truist Financial from $45.00 to $35.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Truist Financial's target price would indicate a potential upside of 44.86% from the company's current price.

Several other brokerages have also weighed in on JHX. Bank of America raised shares of James Hardie Industries from an "underperform" rating to a "buy" rating and dropped their price objective for the company from $27.40 to $27.35 in a research report on Thursday, March 27th. Macquarie downgraded shares of James Hardie Industries from an "outperform" rating to a "neutral" rating in a research report on Monday, March 24th. Raymond James set a $55.00 target price on James Hardie Industries in a research report on Monday, March 24th. Jefferies Financial Group reiterated a "buy" rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Finally, Morgan Stanley raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $39.12.

James Hardie Industries Stock Down 2.3%

Shares of NYSE JHX traded down $0.57 during trading hours on Wednesday, hitting $24.16. The company had a trading volume of 2,009,771 shares, compared to its average volume of 1,495,706. The firm's 50 day moving average is $24.31 and its 200-day moving average is $30.07. The stock has a market capitalization of $10.39 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 6.16 and a beta of 1.80. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. James Hardie Industries has a 1-year low of $19.72 and a 1-year high of $43.57.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its 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 business had revenue of $971.50 million for the quarter, compared to the consensus estimate of $983.86 million. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The business's revenue was down 3.3% compared to the same quarter last year. On average, analysts expect that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently made changes to their positions in JHX. Smartleaf Asset Management LLC lifted its stake in James Hardie Industries by 262.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,286 shares of the construction company's stock valued at $101,000 after buying an additional 2,380 shares during the period. Raymond James Financial Inc. bought a new stake in shares of James Hardie Industries in the 4th quarter valued at $1,100,000. Avantax Advisory Services Inc. lifted its position in shares of James Hardie Industries by 8.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,838 shares of the construction company's stock valued at $211,000 after acquiring an additional 522 shares during the period. JPMorgan Chase & Co. lifted its position in shares of James Hardie Industries by 156.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,327 shares of the construction company's stock valued at $495,000 after acquiring an additional 7,526 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in James Hardie Industries by 23.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 90,741 shares of the construction company's stock worth $2,796,000 after acquiring an additional 17,082 shares in the last quarter. 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.

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