James Hardie Industries (NYSE:JHX) Shares Gap Down - What's Next?

Shares of James Hardie Industries plc (NYSE:JHX - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $24.29, but opened at $23.50. James Hardie Industries shares last traded at $23.85, with a volume of 249,142 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com upgraded James Hardie Industries from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. 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 target price on shares of James Hardie Industries in a research report on Monday, March 24th. Jefferies Financial Group reissued a "buy" rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Finally, Truist Financial set a $45.00 price objective on shares of James Hardie Industries in a research note on Monday, March 24th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.45.

James Hardie Industries Stock Performance

The firm has a market cap of $10.40 billion, a PE ratio of 23.96, a PEG 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. The firm's 50 day moving average price is $25.98 and its two-hundred day moving average price is $30.87.

James Hardie Industries (NYSE:JHX - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The business had revenue of $953.30 million during the quarter, compared to analysts' expectations of $967.63 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. On average, research analysts forecast that James Hardie Industries plc will post 1.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc acquired a new position in James Hardie Industries in the fourth quarter valued at $25,000. R Squared Ltd acquired a new stake in shares of James Hardie Industries in the 4th quarter valued at about $27,000. TD Private Client Wealth LLC grew its stake in James Hardie Industries by 45.3% during the 4th 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 last quarter. Aquatic Capital Management LLC purchased a new stake in James Hardie Industries in the fourth quarter valued at approximately $55,000. Finally, Huntington National Bank grew its position in shares of James Hardie Industries by 64.7% during the fourth quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock worth $70,000 after acquiring an additional 888 shares during the last quarter. Hedge funds and other 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.