Robert W. Baird Has Lowered Expectations for James Hardie Industries (NYSE:JHX) Stock Price

Key Points

• Robert W. Baird has lowered its price target for James Hardie Industries from $32.00 to $25.00, indicating a potential downside of 11.77% from the current stock price.
• James Hardie Industries reported a missed EPS estimate of $0.29 for the most recent quarter, compared to a consensus estimate of $0.36, with revenue down 9.3% year-over-year.
• Despite the rating adjustments, the company has an average rating of "Buy" and a consensus target price of $35.27 according to various analysts.

James Hardie Industries (NYSE:JHX - Get Free Report) had its price target dropped by equities research analysts at Robert W. Baird from $32.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the construction company's stock. Robert W. Baird's target price suggests a potential upside of 21.77% from the stock's previous close.

A number of other equities research analysts have also issued reports on JHX. Wall Street Zen lowered James Hardie Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Baird R W upgraded James Hardie Industries to a "strong-buy" rating in a research report on Friday, July 11th. Truist Financial dropped their price target on James Hardie Industries from $45.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. William Blair started coverage on James Hardie Industries in a research report on Friday, June 27th. They issued an "outperform" rating for the company. Finally, Jefferies Financial Group started coverage on James Hardie Industries in a research report on Friday, August 8th. They issued a "buy" rating and a $34.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $33.27.

James Hardie Industries Price Performance

Shares of James Hardie Industries stock traded up $0.75 during mid-day trading on Wednesday, reaching $20.53. 21,576,979 shares of the stock traded hands, compared to its average volume of 9,231,041. The company has a quick ratio of 1.67, a current ratio of 3.76 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average of $26.63 and a 200 day moving average of $26.59. The stock has a market capitalization of $8.83 billion, a PE ratio of 26.66, a PEG ratio of 2.48 and a beta of 1.74. James Hardie Industries has a fifty-two week low of $17.91 and a fifty-two week high of $43.57.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC grew its position in James Hardie Industries by 70.4% in the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company's stock worth $30,000 after acquiring an additional 455 shares during the period. Hantz Financial Services Inc. grew its position in James Hardie Industries by 641.2% in the second quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company's stock worth $33,000 after acquiring an additional 1,058 shares during the period. MAI Capital Management grew its position in James Hardie Industries by 4,266.7% in the second quarter. MAI Capital Management now owns 1,310 shares of the construction company's stock worth $35,000 after acquiring an additional 1,280 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of James Hardie Industries by 11,238.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company's stock worth $40,000 after buying an additional 1,461 shares during the period. Finally, AlphaCore Capital LLC purchased a new position in shares of James Hardie Industries during the second quarter worth $52,000. 7.96% of the stock is currently owned by hedge funds and other 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.