James Hardie Industries (NYSE:JHX) Stock Rating Lowered by Zacks Investment Research

Wednesday, July 21, 2021 | MarketBeat

James Hardie Industries (NYSE:JHX) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, "JAMES HARDI-ADR pioneered the development of fibre cement technology in the 1980's. They have many product applications including: External siding, trim and fascia, ceiling lining and flooring, partitioning, decorative columns, fencing and drainage pipes. "

Separately, TheStreet upgraded shares of James Hardie Industries from a "c+" rating to an "a-" rating in a research note on Thursday, June 10th.

NYSE:JHX opened at $33.83 on Wednesday. The company has a fifty day moving average of $33.65. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 57.34 and a beta of 1.27. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.81. James Hardie Industries has a twelve month low of $20.09 and a twelve month high of $35.67.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Monday, May 17th. The construction company reported $0.28 earnings per share for the quarter. The company had revenue of $807.00 million during the quarter, compared to analyst estimates of $792.00 million. James Hardie Industries had a net margin of 9.03% and a return on equity of 39.89%. Equities research analysts anticipate that James Hardie Industries will post 1.34 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in JHX. Morgan Stanley grew its stake in shares of James Hardie Industries by 506.9% in the 1st quarter. Morgan Stanley now owns 41,527 shares of the construction company's stock worth $1,270,000 after acquiring an additional 34,685 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of James Hardie Industries in the 1st quarter worth $230,000. Citadel Advisors LLC grew its stake in shares of James Hardie Industries by 11.9% in the 1st quarter. Citadel Advisors LLC now owns 69,812 shares of the construction company's stock worth $2,134,000 after acquiring an additional 7,405 shares in the last quarter. Royal Bank of Canada grew its stake in shares of James Hardie Industries by 41.2% in the 1st quarter. Royal Bank of Canada now owns 4,827 shares of the construction company's stock worth $148,000 after acquiring an additional 1,409 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of James Hardie Industries by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 659,362 shares of the construction company's stock worth $20,163,000 after acquiring an additional 33,383 shares in the last quarter. Institutional investors and hedge funds own 1.05% of the company's stock.

James Hardie Industries Company Profile

James Hardie Industries plc, together with its subsidiaries, 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, the Philippines, and Canada.

Further Reading: Return on Equity (ROE)

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