James Hardie Industries (NYSE:JHX) Reaches New 12-Month Low – What’s Next?

Shares of James Hardie Industries PLC. (NYSE:JHX) reached a new 52-week low on Thursday . The stock traded as low as $16.59 and last traded at $16.7210, with a volume of 2522968 shares traded. The stock had previously closed at $16.96.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on JHX shares. Jefferies Financial Group assumed coverage on James Hardie Industries in a research note on Friday, August 8th. They issued a “buy” rating and a $34.00 price objective for the company. CLSA upgraded shares of James Hardie Industries to a “hold” rating in a research report on Wednesday, October 8th. Macquarie raised shares of James Hardie Industries from a “neutral” rating to an “outperform” rating in a research report on Monday, July 28th. Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Truist Financial raised their price target on shares of James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.91.

James Hardie Industries Price Performance

The business’s 50 day moving average is $20.03 and its two-hundred day moving average is $23.42. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.31 and a current ratio of 3.76. The firm has a market capitalization of $7.19 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 14.34 and a beta of 1.82.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, August 19th. The construction company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). James Hardie Industries had a return on equity of 27.95% and a net margin of 8.75%.The company had revenue of $899.90 million during the quarter, compared to the consensus estimate of $982.60 million. During the same period in the previous year, the business earned $0.41 earnings per share. James Hardie Industries’s revenue was down 9.3% on a year-over-year basis. Equities research analysts anticipate that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC grew its stake in James Hardie Industries by 70.4% during the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $30,000 after acquiring an additional 455 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in James Hardie Industries by 641.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,058 shares during the period. MAI Capital Management grew its position in shares of James Hardie Industries by 4,266.7% during the 2nd quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock valued at $35,000 after purchasing an additional 1,280 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,461 shares during the period. Finally, AlphaCore Capital LLC bought a new position in shares of James Hardie Industries in the second quarter worth $52,000. 7.96% of the stock is 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.