James Hardie Industries (NYSE:JHX) Trading 5.6% Higher - Here's What Happened

Shares of James Hardie Industries PLC. (NYSE:JHX - Get Free Report) were up 5.6% on Friday . The stock traded as high as $27.27 and last traded at $27.20. Approximately 2,390,790 shares were traded during trading, an increase of 100% from the average daily volume of 1,192,588 shares. The stock had previously closed at $25.77.

Wall Street Analyst Weigh In

JHX has been the topic of a number of research analyst reports. Raymond James Financial set a $55.00 price target on shares of James Hardie Industries in a research note on Monday, March 24th. Macquarie lowered James Hardie Industries from an "outperform" rating to a "neutral" rating in a research note on Monday, March 24th. Wall Street Zen cut James Hardie Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Bank of America upgraded James Hardie Industries from an "underperform" rating to a "buy" rating and decreased their price objective for the company from $27.40 to $27.35 in a report on Thursday, March 27th. Finally, William Blair initiated coverage on James Hardie Industries in a report on Friday. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $39.12.

James Hardie Industries Stock Up 6.9%

The firm's fifty day simple moving average is $24.53 and its two-hundred day simple moving average is $28.23. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.73. 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 quarterly earnings data on Tuesday, May 20th. The construction company reported $0.36 earnings per share 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 during the quarter, compared to analysts' expectations of $983.86 million. During the same quarter in the previous year, the company posted $1.61 earnings per share. The company's revenue was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that James Hardie Industries PLC. will post 1.39 EPS for the current year.

Institutional Trading of James Hardie Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TD Private Client Wealth LLC lifted its position in James Hardie Industries by 45.3% in the fourth 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 during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of James Hardie Industries in the 4th quarter worth approximately $55,000. Huntington National Bank lifted 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 worth $70,000 after acquiring an additional 888 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of James Hardie Industries during the 1st quarter worth approximately $57,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of James Hardie Industries by 262.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,286 shares of the construction company's stock worth $101,000 after purchasing an additional 2,380 shares during the period. 7.96% of the stock is owned by institutional investors and hedge funds.

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.

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