Robert W. Baird Issues Pessimistic Forecast for James Hardie Industries (NYSE:JHX) Stock Price

James Hardie Industries (NYSE:JHX) had its price target cut by stock analysts at Robert W. Baird from $28.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 45.45% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Raymond James Financial set a $28.00 target price on shares of James Hardie Industries in a research report on Wednesday, October 29th. Zacks Research raised shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Jefferies Financial Group initiated coverage on shares of James Hardie Industries in a report on Friday, August 8th. They set a “buy” rating and a $34.00 price target for the company. Oppenheimer set a $28.00 price objective on James Hardie Industries and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Macquarie upgraded shares of James Hardie Industries from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.05.

James Hardie Industries Stock Up 7.1%

NYSE:JHX opened at $17.88 on Wednesday. The company has a current ratio of 3.76, a quick ratio of 3.31 and a debt-to-equity ratio of 1.12. James Hardie Industries has a twelve month low of $16.46 and a twelve month high of $37.65. The company has a market cap of $7.68 billion, a PE ratio of 23.22, a P/E/G ratio of 14.34 and a beta of 1.82. The company’s 50 day moving average is $19.92 and its two-hundred day moving average is $23.32.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. Analysts anticipate that James Hardie Industries will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JHX. Y Intercept Hong Kong Ltd purchased a new stake in James Hardie Industries in the second quarter valued at approximately $654,000. Tabor Asset Management LP acquired a new position in shares of James Hardie Industries in the 2nd quarter valued at $5,542,000. Millennium Management LLC raised its position in James Hardie Industries by 5,001.3% in the 1st quarter. Millennium Management LLC now owns 997,875 shares of the construction company’s stock valued at $23,510,000 after purchasing an additional 978,314 shares during the last quarter. Private Advisory Group LLC purchased a new stake in James Hardie Industries in the 1st quarter valued at $9,345,000. Finally, Cerity Partners LLC boosted its stake in James Hardie Industries by 39.3% during the 1st quarter. Cerity Partners LLC now owns 46,083 shares of the construction company’s stock worth $1,086,000 after purchasing an additional 12,990 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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.