James Hardie Industries (NYSE:JHX) Stock Price Down 3% - Time to Sell?

James Hardie Industries PLC. (NYSE:JHX - Get Free Report) traded down 3% on Monday . The company traded as low as $26.87 and last traded at $26.75. 499,948 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,438,958 shares. The stock had previously closed at $27.59.

Analysts Set New Price Targets

Several equities analysts have weighed in on JHX shares. Bank of America raised 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 report on Thursday, March 27th. Morgan Stanley raised James Hardie Industries from an "equal weight" rating to an "overweight" rating in a research note on Monday, March 24th. Wall Street Zen downgraded shares of James Hardie Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. William Blair initiated coverage on shares of James Hardie Industries in a research report on Friday. They issued an "outperform" rating for the company. Finally, Truist Financial cut their price target on shares of James Hardie Industries from $45.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, James Hardie Industries has a consensus rating of "Moderate Buy" and a consensus price target of $39.12.

James Hardie Industries Price Performance

The business's fifty day moving average price is $24.73 and its 200 day moving average price is $28.04. The stock has a market cap of $12.08 billion, a P/E ratio of 28.69, a PEG ratio of 1.55 and a beta of 1.73. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.67.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its quarterly 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 company had revenue of $971.50 million for the quarter, compared to analyst estimates of $983.86 million. During the same quarter last year, the company posted $1.61 earnings per share. The firm's quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts forecast that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

Institutional Trading of James Hardie Industries

Hedge funds have recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its position 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 period. Smartleaf Asset Management LLC lifted its holdings in shares of James Hardie Industries by 12.1% during the first quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company's stock worth $89,000 after purchasing an additional 397 shares during the period. Russell Investments Group Ltd. grew its stake in shares of James Hardie Industries by 9.5% in the fourth quarter. Russell Investments Group Ltd. now owns 5,220 shares of the construction company's stock worth $161,000 after purchasing an additional 453 shares during the last quarter. Rhumbline Advisers increased its holdings in James Hardie Industries by 5.2% in the fourth quarter. Rhumbline Advisers now owns 9,695 shares of the construction company's stock valued at $299,000 after purchasing an additional 482 shares during the period. Finally, Schechter Investment Advisors LLC raised its position in James Hardie Industries by 7.6% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,017 shares of the construction company's stock worth $216,000 after purchasing an additional 494 shares during the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

James Hardie Industries Company Profile

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.