James Hardie Industries (NYSE:JHX) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded James Hardie Industries from “strong sell” to “hold”, adding to a generally more positive analyst tone around the stock. Barclays also raised its price target to $25, and the consensus rating now sits at Moderate Buy with a target price of $27.
• Shares of JHX were up 6.0% and opened at $25.75. The stock trades near its recent highs, with a 52-week range of $16.46 to $29.83.
• The company recently beat quarterly EPS estimates, reporting $0.30 per share versus expectations of $0.29. Revenue came in at $1.40 billion, up 44.5% year over year, while analysts expect full-year EPS of 1.24.

James Hardie Industries (NYSE:JHX - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on JHX. Barclays lifted their target price on James Hardie Industries from $21.00 to $25.00 and gave the company an "equal weight" rating in a report on Tuesday. Stephens initiated coverage on shares of James Hardie Industries in a research report on Thursday, June 25th. They issued an "overweight" rating and a $31.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

James Hardie Industries Trading Up 6.0%

Shares of JHX stock opened at $25.75 on Monday. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 117.03 and a beta of 1.77. The company's fifty day simple moving average is $23.25 and its two-hundred day simple moving average is $22.43. James Hardie Industries has a 1 year low of $16.46 and a 1 year high of $29.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.03.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $0.36 earnings per share. The business's revenue for the quarter was up 44.5% on a year-over-year basis. As a group, analysts anticipate that James Hardie Industries will post 1.24 earnings per share for the current year.

Institutional Trading of James Hardie Industries

Large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in James Hardie Industries by 259.7% in the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company's stock valued at $972,981,000 after purchasing an additional 36,567,726 shares in the last quarter. JPMorgan Chase & Co. grew its stake in James Hardie Industries by 22.2% in the 4th quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company's stock worth $201,071,000 after buying an additional 1,758,111 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of James Hardie Industries by 14.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,166,115 shares of the construction company's stock worth $107,197,000 after buying an additional 634,354 shares during the last quarter. Hill City Capital LP increased its holdings in shares of James Hardie Industries by 21.4% in the 4th quarter. Hill City Capital LP now owns 5,120,200 shares of the construction company's stock worth $106,244,000 after buying an additional 901,700 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in James Hardie Industries by 48.5% in the first quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company's stock valued at $72,720,000 after acquiring an additional 1,254,400 shares during the last quarter. Institutional investors own 7.96% of the company's stock.

About James Hardie Industries

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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