James Hardie Industries (NYSE:JHX) Hits New 1-Year High - Should You Buy?

Key Points

• James Hardie Industries reached a new 52-week high, trading as high as $31.43 before settling near $30.48. Its shares have risen above both the 50-day and 200-day moving averages.
• Analysts remain broadly positive, with nine Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $32.50; individual targets range from $34 to $36.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.36 versus $0.32 expected and revenue of $1.47 billion versus $1.42 billion expected. Revenue increased 63.9% year over year, though the stock’s valuation is elevated at roughly 121 times earnings.

James Hardie Industries PLC. (NYSE:JHX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.43 and last traded at $30.4840, with a volume of 895580 shares traded. The stock had previously closed at $30.39.

Wall Street Analysts Forecast Growth

JHX has been the topic of several research analyst reports. Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a research note on Monday, August 10th. Zacks Research raised James Hardie Industries from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Robert W. Baird set a $34.00 price target on James Hardie Industries in a research report on Friday, August 7th. Barclays raised James Hardie Industries from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $26.00 to $35.00 in a report on Monday, August 10th. Finally, Oppenheimer increased their target price on James Hardie Industries from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, James Hardie Industries currently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

James Hardie Industries Trading Down 0.4%

The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The business's fifty day moving average is $27.82 and its two-hundred day moving average is $23.91. The firm has a market cap of $17.57 billion, a price-to-earnings ratio of 120.90, a price-to-earnings-growth ratio of 2.61 and a beta of 1.77.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The business's revenue for the quarter was up 63.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Equities analysts anticipate that James Hardie Industries PLC. will post 1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP lifted its position in James Hardie Industries by 127.5% during the 2nd quarter. Corient Private Wealth LP now owns 27,010 shares of the construction company's stock valued at $708,000 after purchasing an additional 15,139 shares during the period. First Eagle Investment Management LLC raised its stake in shares of James Hardie Industries by 54.5% during the second quarter. First Eagle Investment Management LLC now owns 48,176 shares of the construction company's stock worth $1,261,000 after buying an additional 17,000 shares during the last quarter. California State Teachers Retirement System lifted its holdings in James Hardie Industries by 575.3% in the second quarter. California State Teachers Retirement System now owns 55,161 shares of the construction company's stock valued at $1,444,000 after buying an additional 46,993 shares during the period. AXQ Capital LP lifted its holdings in James Hardie Industries by 26.2% in the second quarter. AXQ Capital LP now owns 88,156 shares of the construction company's stock valued at $2,308,000 after buying an additional 18,302 shares during the period. Finally, Continuum Advisory LLC bought a new position in James Hardie Industries in the second quarter valued at approximately $131,000. Institutional investors own 7.96% of the company's stock.

James Hardie Industries Company Profile

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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