James Hardie Industries (NYSE:JHX) Shares Gap Down to $36.59

James Hardie Industries plc (NYSE:JHX - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $36.59, but opened at $31.19. James Hardie Industries shares last traded at $31.40, with a volume of 125,934 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on JHX shares. Macquarie raised shares of James Hardie Industries from a "neutral" rating to an "outperform" rating in a research note on Tuesday. Bank of America lowered James Hardie Industries from a "neutral" rating to an "underperform" rating and set a $35.50 price objective for the company. in a research report on Tuesday, January 23rd. StockNews.com raised James Hardie Industries from a "buy" rating to a "strong-buy" rating in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. downgraded shares of James Hardie Industries from an "overweight" rating to a "neutral" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.50.

James Hardie Industries Trading Down 15.3 %

The stock has a fifty day moving average price of $37.59 and a 200 day moving average price of $36.42. The stock has a market cap of $13.44 billion, a PE ratio of 25.95, a PEG ratio of 1.81 and a beta of 1.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.46 and a current ratio of 1.89.

Hedge Funds Weigh In On James Hardie Industries

Hedge funds have recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC purchased a new position in shares of James Hardie Industries during the first quarter valued at approximately $30,000. GAMMA Investing LLC purchased a new stake in James Hardie Industries in the fourth quarter worth $33,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of James Hardie Industries by 693.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,158 shares of the construction company's stock valued at $47,000 after purchasing an additional 1,012 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of James Hardie Industries in the first quarter worth about $71,000. Finally, Lindbrook Capital LLC increased its stake in James Hardie Industries by 14.3% in the 1st quarter. Lindbrook Capital LLC now owns 2,896 shares of the construction company's stock worth $117,000 after buying an additional 362 shares during the period. 7.96% of the stock is currently owned by institutional investors.

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.