Stephens Boosts James Hardie Industries (NYSE:JHX) Price Target to $33.00

Key Points

• Stephens raised its price target for James Hardie Industries from $31 to $33 and maintained an “overweight” rating, implying 24.05% upside from the reported $26.60 share price.
• Analyst sentiment remains generally positive: nine analysts rate the stock a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and an average target price of $27.33.
• James Hardie exceeded quarterly EPS expectations with $0.30 versus $0.29, while revenue rose 44.5% year over year to $1.40 billion, slightly below consensus estimates.

James Hardie Industries (NYSE:JHX - Get Free Report) had its target price lifted by stock analysts at Stephens from $31.00 to $33.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. Stephens' price target suggests a potential upside of 24.05% from the company's current price.

Several other equities analysts have also recently commented on JHX. Barclays reiterated a "positive" rating on shares of James Hardie Industries in a research note on Friday. Zacks Research upgraded shares of James Hardie Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.33.

James Hardie Industries Price Performance

Shares of NYSE:JHX opened at $26.60 on Tuesday. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 120.93 and a beta of 1.77. The business has a 50 day moving average price of $24.25 and a 200 day moving average price of $22.74. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. James Hardie Industries has a twelve month low of $16.46 and a twelve month high of $29.83.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business posted $0.36 EPS. The company's revenue for the quarter was up 44.5% on a year-over-year basis. Research analysts predict that James Hardie Industries will post 1.24 earnings per share for the current year.

Institutional Investors Weigh In On James Hardie Industries

A number of institutional investors have recently bought and sold shares of JHX. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in James Hardie Industries in the first quarter valued at about $28,000. Modus Advisors LLC bought a new stake in James Hardie Industries during the fourth quarter worth about $31,000. Global Retirement Partners LLC increased its holdings in shares of James Hardie Industries by 3,431.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company's stock worth $33,000 after buying an additional 1,544 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of James Hardie Industries in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 7.96% of the company's stock.

About James Hardie Industries

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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