James Hardie Industries (NYSE:JHX) Stock Rating Upgraded by Jefferies Financial Group

Posted by on Aug 10th, 2023

James Hardie Industries (NYSE:JHX – Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a report released on Tuesday, MarketBeat reports.

Separately, StockNews.com began coverage on shares of James Hardie Industries in a research report on Thursday, May 18th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.80.

View Our Latest Stock Report on JHX

James Hardie Industries Trading Down 2.4 %

Shares of JHX stock opened at $30.30 on Tuesday. James Hardie Industries has a fifty-two week low of $17.25 and a fifty-two week high of $31.93. The stock’s fifty day moving average price is $27.00 and its two-hundred day moving average price is $23.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.05 and a current ratio of 1.54. The company has a market cap of $13.34 billion, a PE ratio of 26.35, a P/E/G ratio of 4.23 and a beta of 1.43.

James Hardie Industries (NYSE:JHX – Get Free Report) last posted its earnings results on Monday, May 15th. The construction company reported $0.33 EPS for the quarter. The firm had revenue of $917.80 million during the quarter. James Hardie Industries had a net margin of 13.58% and a return on equity of 40.41%. Equities analysts predict that James Hardie Industries will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JHX. Bank of America Corp DE raised its stake in James Hardie Industries by 2,363.6% during the first quarter. Bank of America Corp DE now owns 1,161,155 shares of the construction company’s stock worth $25,139,000 after buying an additional 1,114,023 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of James Hardie Industries by 24.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 971,375 shares of the construction company’s stock worth $21,312,000 after acquiring an additional 190,866 shares in the last quarter. BlackRock Inc. lifted its stake in shares of James Hardie Industries by 15.0% in the 3rd quarter. BlackRock Inc. now owns 760,266 shares of the construction company’s stock valued at $15,038,000 after purchasing an additional 99,243 shares during the period. Renaissance Technologies LLC boosted its position in shares of James Hardie Industries by 27.8% during the 2nd quarter. Renaissance Technologies LLC now owns 277,163 shares of the construction company’s stock valued at $6,081,000 after purchasing an additional 60,336 shares in the last quarter. Finally, Northern Trust Corp grew its stake in James Hardie Industries by 2.4% during the second quarter. Northern Trust Corp now owns 205,772 shares of the construction company’s stock worth $4,514,000 after purchasing an additional 4,845 shares during the period. Institutional investors and hedge funds own 1.46% of the company’s stock.

About James Hardie Industries

(Get Free Report)

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.

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Analyst Recommendations for James Hardie Industries (NYSE:JHX)

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