James Hardie Industries (NYSE:JHX) Issues Quarterly Earnings Results, Meets Estimates

James Hardie Industries (NYSE:JHX) announced its earnings results on Tuesday. The construction company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36, Zacks reports. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%.

James Hardie Industries Stock Performance

Shares of JHX traded down $0.52 during trading hours on Tuesday, hitting $24.73. The company had a trading volume of 2,334,147 shares, compared to its average volume of 623,473. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 6.16 and a beta of 1.80. The business has a fifty day moving average of $24.44 and a 200-day moving average of $30.11. James Hardie Industries has a 12 month low of $19.72 and a 12 month high of $43.57. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52.

Analyst Ratings Changes

A number of analysts have commented on JHX shares. Macquarie cut shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday, March 24th. Truist Financial set a $45.00 price target on shares of James Hardie Industries in a research note on Monday, March 24th. Raymond James set a $55.00 price target on shares of James Hardie Industries in a research note on Monday, March 24th. Jefferies Financial Group reiterated a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Finally, StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.45.

Hedge Funds Weigh In On James Hardie Industries

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of James Hardie Industries by 160.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after purchasing an additional 1,662,743 shares during the period. Jane Street Group LLC raised its position in shares of James Hardie Industries by 222.4% in the first quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock valued at $6,573,000 after purchasing an additional 192,478 shares during the period. Finally, Royal Bank of Canada raised its position in shares of James Hardie Industries by 17.0% in the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock valued at $1,197,000 after purchasing an additional 7,396 shares during the period. 7.96% of the stock is owned by institutional investors.

About James Hardie Industries

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.