James Hardie Industries (NYSE:JHX) Shares Gap Down - Time to Sell?

James Hardie Industries PLC. (NYSE:JHX - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $25.07, but opened at $24.40. James Hardie Industries shares last traded at $24.73, with a volume of 606,405 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on JHX shares. Bank of America raised shares of James Hardie Industries from an "underperform" rating to a "buy" rating and dropped their target price for the stock from $27.40 to $27.35 in a research report on Thursday, March 27th. Raymond James Financial set a $55.00 target price on shares of James Hardie Industries in a report on Monday, March 24th. Wall Street Zen lowered shares of James Hardie Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Truist Financial cut their target price on shares of James Hardie Industries from $45.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Finally, Morgan Stanley upgraded shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating in a research report on Monday, March 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.12.

James Hardie Industries Stock Down 1.2%

The company has a market cap of $10.31 billion, a PE ratio of 24.48, a P/E/G ratio of 1.37 and a beta of 1.73. The company's 50 day moving average is $24.28 and its 200 day moving average is $28.51. The company has a current ratio of 2.10, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its earnings results on Tuesday, May 20th. The construction company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 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 previous year, the company earned $1.61 earnings per share. The firm's revenue was down 3.3% on a year-over-year basis. As a group, analysts predict that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

Institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings in shares of James Hardie Industries by 45.3% in the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company's stock valued at $30,000 after buying an additional 303 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of James Hardie Industries in the 4th quarter valued at about $55,000. Huntington National Bank boosted its holdings in shares of James Hardie Industries by 64.7% in the 4th quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock valued at $70,000 after buying an additional 888 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of James Hardie Industries in the 1st quarter valued at about $57,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of James Hardie Industries by 262.7% in the 4th 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 in the last quarter. 7.96% of the stock is currently owned by institutional investors.

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.