James Hardie Industries PLC. (NYSE:JHX - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 2,203,213 shares changed hands during mid-day trading, an increase of 69% from the previous session's volume of 1,306,933 shares.The stock last traded at $27.33 and had previously closed at $26.89.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Macquarie cut James Hardie Industries from an "outperform" rating to a "neutral" rating in a research report on Monday, March 24th. Raymond James Financial set a $55.00 price target on James Hardie Industries in a report on Monday, March 24th. 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 note on Thursday, March 27th. Morgan Stanley raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a report on Monday, March 24th. Finally, Truist Financial dropped their price objective on James Hardie Industries from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, James Hardie Industries has a consensus rating of "Moderate Buy" and an average target price of $39.12.
Read Our Latest Stock Report on JHX
James Hardie Industries Trading Up 3.9%
The business's 50 day moving average price is $24.73 and its two-hundred day moving average price is $28.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.67 and a current ratio of 2.10. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.73.
James Hardie Industries (NYSE:JHX - Get Free Report) last released its earnings results 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). James Hardie Industries had a return on equity of 31.52% and a net margin of 10.94%. The firm had revenue of $971.50 million for the quarter, compared to analyst estimates of $983.86 million. During the same period in the previous year, the firm earned $1.61 earnings per share. James Hardie Industries's revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.
Institutional Trading of James Hardie Industries
Several hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in shares of James Hardie Industries by 59,775.3% in the first quarter. Citigroup Inc. now owns 5,325,912 shares of the construction company's stock valued at $125,478,000 after purchasing an additional 5,317,017 shares in the last quarter. Wellington Management Group LLP acquired a new stake in James Hardie Industries in the 1st quarter valued at $90,526,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of James Hardie Industries in the 1st quarter valued at $87,858,000. Goldman Sachs Group Inc. lifted its holdings in James Hardie Industries by 160.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company's stock valued at $63,557,000 after purchasing an additional 1,662,743 shares during the last quarter. Finally, Millennium Management LLC boosted its position in James Hardie Industries by 5,001.3% in the first 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. Institutional investors own 7.96% of the company's stock.
James Hardie Industries Company Profile
(
Get Free Report)
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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