James Hardie Industries (NYSE:JHX) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• James Hardie stock crossed above its 200-day moving average
• The consensus from Wall Street is a "Moderate Buy" (10 Buy ratings, 4 Hold ratings) with an average price target of $26.13, though recent analyst moves have been mixed (Barclays cut its target while Truist and JPMorgan raised theirs).
• Fundamentals show a recent quarterly beat—EPS of $0.24 vs. $0.23 estimate and revenue up 30.1% year-over-year—while valuation metrics include a market cap of ~$9.45 billion and a high P/E of 81.42.

James Hardie Industries PLC. (NYSE:JHX - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.23 and traded as high as $22.14. James Hardie Industries shares last traded at $21.9830, with a volume of 5,430,162 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on JHX shares. Barclays reduced their target price on shares of James Hardie Industries from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Truist Financial raised their target price on shares of James Hardie Industries from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. raised shares of James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 11th. Finally, Zacks Research lowered shares of James Hardie Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, James Hardie Industries currently has a consensus rating of "Moderate Buy" and an average price target of $26.13.

James Hardie Industries Stock Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.54 and a quick ratio of 0.95. The stock's 50 day simple moving average is $21.31 and its two-hundred day simple moving average is $21.23. The stock has a market cap of $9.45 billion, a P/E ratio of 81.42, a price-to-earnings-growth ratio of 4.11 and a beta of 1.84.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. James Hardie Industries had a net margin of 2.70% and a return on equity of 13.52%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business's revenue was up 30.1% on a year-over-year basis. As a group, research analysts forecast that James Hardie Industries PLC. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JHX. Royal Bank of Canada grew its holdings in shares of James Hardie Industries by 17.0% during the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company's stock worth $1,197,000 after buying an additional 7,396 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of James Hardie Industries by 160.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company's stock worth $63,557,000 after buying an additional 1,662,743 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of James Hardie Industries by 222.4% during the first quarter. Jane Street Group LLC now owns 279,009 shares of the construction company's stock worth $6,573,000 after buying an additional 192,478 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of James Hardie Industries by 49.2% during the second quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company's stock worth $312,000 after buying an additional 3,827 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of James Hardie Industries by 11,238.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company's stock worth $40,000 after buying an additional 1,461 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors.

James Hardie Industries Company Profile

James Hardie Industries plc NYSE: JHX is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company's flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.

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