James Hardie Industries (NYSE:JHX) Upgraded by Zacks Research to Hold Rating

Key Points

• James Hardie Industries has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, reflecting updated analyst sentiment.
• The company's recent earnings report showed that it missed consensus estimates with an EPS of $0.29, down from $0.41 in the same quarter last year.
• Currently, James Hardie Industries has a market capitalization of $9.33 billion and its stock has a 52-week trading range from $17.85 to $37.65.

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

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird decreased their target price on shares of James Hardie Industries from $32.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 20th. Truist Financial raised their price target on James Hardie Industries from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Wolfe Research initiated coverage on James Hardie Industries in a research report on Tuesday, September 30th. They set an "outperform" rating and a $25.00 target price for the company. Macquarie upgraded James Hardie Industries from a "neutral" rating to an "outperform" rating in a research note on Monday, July 28th. Finally, CLSA upgraded shares of James Hardie Industries to a "hold" rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.39.

James Hardie Industries Trading Down 0.6%

Shares of NYSE:JHX opened at $21.70 on Monday. James Hardie Industries has a 52-week low of $17.85 and a 52-week high of $37.65. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 14.28 and a beta of 1.79. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.31 and a current ratio of 3.76. The stock's 50-day simple moving average is $21.07 and its two-hundred day simple moving average is $23.77.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Tuesday, August 19th. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The business had revenue of $899.90 million for the quarter, compared to the consensus estimate of $982.60 million. James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The business's quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Analysts expect that James Hardie Industries will post 1.39 EPS for the current year.

Institutional Investors Weigh In On James Hardie Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in shares of James Hardie Industries by 5,001.3% in the 1st quarter. Millennium Management LLC now owns 997,875 shares of the construction company's stock worth $23,510,000 after purchasing an additional 978,314 shares during the period. Private Advisory Group LLC bought a new stake in James Hardie Industries in the first quarter worth $9,345,000. Cerity Partners LLC boosted its stake in James Hardie Industries by 39.3% during the first quarter. Cerity Partners LLC now owns 46,083 shares of the construction company's stock worth $1,086,000 after buying an additional 12,990 shares during the period. Cubist Systematic Strategies LLC bought a new position in James Hardie Industries during the first quarter valued at $439,000. Finally, Bank of New York Mellon Corp raised its stake in shares of James Hardie Industries by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 55,944 shares of the construction company's stock valued at $1,318,000 after acquiring an additional 3,838 shares during the period. 7.96% of the stock is currently owned by hedge funds and other 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.

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