James Hardie Industries (NYSE:JHX) Sees Strong Trading Volume - Time to Buy?

Shares of James Hardie Industries plc (NYSE:JHX - Get Free Report) saw an uptick in trading volume on Tuesday . 1,070,961 shares changed hands during trading, an increase of 33% from the previous session's volume of 802,886 shares.The stock last traded at $24.43 and had previously closed at $23.91.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JHX. Morgan Stanley upgraded shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a report on Monday, March 24th. Raymond James set a $55.00 target price on shares of James Hardie Industries in a research report on Monday, March 24th. Truist Financial cut their target price on shares of James Hardie Industries from $45.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. Macquarie downgraded shares of James Hardie Industries from an "outperform" rating to a "neutral" rating in a research report on Monday, March 24th. Finally, Wall Street Zen downgraded shares of James Hardie Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, James Hardie Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.12.

James Hardie Industries Stock Performance

The business's 50-day moving average price is $23.39 and its 200-day moving average price is $29.38. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52. The stock has a market cap of $11.43 billion, a PE ratio of 26.34, a P/E/G ratio of 6.16 and a beta of 1.73.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The construction company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The firm had revenue of $971.50 million during the quarter, compared to analysts' expectations of $983.86 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. During the same period in the previous year, the firm earned $1.61 EPS. The firm's quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that James Hardie Industries plc 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. R Squared Ltd acquired a new stake in shares of James Hardie Industries during the fourth quarter worth $27,000. TD Private Client Wealth LLC lifted its stake in shares of 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 buying an additional 303 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of James Hardie Industries during the fourth quarter worth $55,000. SVB Wealth LLC acquired a new stake in James Hardie Industries during the 1st quarter valued at approximately $57,000. Finally, Huntington National Bank lifted its stake in James Hardie Industries by 64.7% during the 4th quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock valued at $70,000 after acquiring an additional 888 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.