Truist Financial Cuts James Hardie Industries (NYSE:JHX) Price Target to $35.00

James Hardie Industries (NYSE:JHX) had its target price reduced by Truist Financial from $45.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

Several other brokerages have also issued reports on JHX. Jefferies Financial Group reiterated a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Macquarie cut James Hardie Industries from an “outperform” rating to a “neutral” rating in a research report on Monday, March 24th. StockNews.com upgraded James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Morgan Stanley upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a report on Monday, March 24th. Finally, Raymond James set a $55.00 target price on shares of James Hardie Industries in a report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, James Hardie Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.12.

James Hardie Industries Stock Down 3.4%

NYSE:JHX opened at $23.90 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.18. The company has a market cap of $10.27 billion, a PE ratio of 23.66, a PEG ratio of 6.16 and a beta of 1.80. James Hardie Industries has a 52-week low of $19.72 and a 52-week high of $43.57. The stock has a 50-day simple moving average of $24.15 and a 200 day simple moving average of $30.03.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Tuesday, May 20th. The construction company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $971.50 million for the quarter, compared to analyst estimates of $983.86 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. On average, sell-side analysts expect that James Hardie Industries will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in James Hardie Industries during the fourth quarter worth $27,000. TD Private Client Wealth LLC lifted its stake in shares of James Hardie Industries by 45.3% during the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock worth $30,000 after buying an additional 303 shares during the last quarter. Aquatic Capital Management LLC bought a new position in James Hardie Industries in the 4th quarter valued at about $55,000. SVB Wealth LLC bought a new position in James Hardie Industries in the 1st quarter valued at about $57,000. Finally, Huntington National Bank raised its holdings in James Hardie Industries by 64.7% in the 4th quarter. Huntington National Bank now owns 2,260 shares of the construction company’s stock valued at $70,000 after acquiring an additional 888 shares during the period. 7.96% of the stock is owned by institutional investors and hedge funds.

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.