James Hardie Industries (NYSE:JHX) Now Covered by Analysts at Wolfe Research

Key Points

• James Hardie Industries' stock rating has been upgraded to a strong-buy by analysts at Wolfe Research, signaling positive market expectations.
• Recent performance data revealed the company missed earnings estimates, reporting $0.29 earnings per share against a consensus of $0.36 and a revenue of $899.90 million, below expectations.
• Institutional investors significantly increased their holdings in James Hardie Industries, with Massachusetts Financial Services boosting its stake by 241% in the second quarter.

Research analysts at Wolfe Research started coverage on shares of James Hardie Industries (NYSE:JHX - Get Free Report) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set an "outperform" rating on the construction company's stock.

Several other analysts have also weighed in on JHX. William Blair began coverage on shares of James Hardie Industries in a research note on Friday, June 27th. They set an "outperform" rating for the company. Macquarie upgraded shares of James Hardie Industries from a "neutral" rating to an "outperform" rating in a research note on Monday, July 28th. Baird R W upgraded shares of James Hardie Industries to a "strong-buy" rating in a research note on Friday, July 11th. UBS Group reissued a "neutral" rating on shares of James Hardie Industries in a report on Thursday, August 21st. Finally, Robert W. Baird reduced their price target on shares of James Hardie Industries from $32.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, James Hardie Industries presently has an average rating of "Buy" and an average target price of $31.89.

James Hardie Industries Stock Up 2.3%

JHX stock opened at $19.65 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.76 and a quick ratio of 3.31. James Hardie Industries has a 1-year low of $17.85 and a 1-year high of $38.79. The firm has a fifty day moving average price of $22.71 and a two-hundred day moving average price of $24.22. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 2.22 and a beta of 1.79.

James Hardie Industries (NYSE:JHX - Get Free Report) last released its earnings results on Tuesday, August 19th. The construction company reported $0.29 earnings per share 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 business had revenue of $899.90 million for the quarter, compared to the consensus estimate of $982.60 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm's revenue for the quarter was down 9.3% on a year-over-year basis. Research analysts predict that James Hardie Industries will post 1.39 EPS for the current year.

Hedge Funds Weigh In On James Hardie Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its position in James Hardie Industries by 5,001.3% in the 1st quarter. Millennium Management LLC now owns 997,875 shares of the construction company's stock valued at $23,510,000 after buying an additional 978,314 shares in the last quarter. Private Advisory Group LLC bought a new position in James Hardie Industries in the 1st quarter valued at about $9,345,000. GAMMA Investing LLC grew its position in James Hardie Industries by 2,189.1% in the 1st quarter. GAMMA Investing LLC now owns 32,207 shares of the construction company's stock valued at $759,000 after buying an additional 30,800 shares in the last quarter. Cerity Partners LLC grew its position in James Hardie Industries by 39.3% in the 1st quarter. Cerity Partners LLC now owns 46,083 shares of the construction company's stock valued at $1,086,000 after buying an additional 12,990 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in James Hardie Industries in the 1st quarter valued at about $439,000. Institutional investors own 7.96% of the company's stock.

About James Hardie Industries

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.