James Hardie Industries (NYSE:JHX) Rating Lowered to “Strong Sell” at Zacks Research

James Hardie Industries (NYSE:JHX) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on JHX. Barclays cut their price target on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 11th. Finally, Truist Financial boosted their price target on shares of James Hardie Industries from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.00.

James Hardie Industries Stock Down 0.1%

NYSE JHX opened at $20.79 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 0.95. The company’s 50 day simple moving average is $20.18 and its 200 day simple moving average is $21.06. James Hardie Industries has a 12 month low of $16.46 and a 12 month high of $29.83. The company has a market capitalization of $8.94 billion, a P/E ratio of 94.49, a PEG ratio of 11.30 and a beta of 1.79.

James Hardie Industries (NYSE:JHX) last released its earnings results on Tuesday, May 19th. The construction company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 44.5% on a year-over-year basis. Equities research analysts expect that James Hardie Industries will post 1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JHX. Wellington Management Group LLP grew its position in James Hardie Industries by 259.7% during the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock valued at $972,981,000 after purchasing an additional 36,567,726 shares in the last quarter. Phoenix Financial Ltd. purchased a new position in James Hardie Industries during the third quarter valued at approximately $105,839,000. Capital World Investors purchased a new position in James Hardie Industries during the third quarter valued at approximately $86,121,000. Jacobs Levy Equity Management Inc. purchased a new position in James Hardie Industries during the fourth quarter valued at approximately $77,530,000. Finally, RDST Capital LLC purchased a new position in James Hardie Industries during the fourth quarter valued at approximately $55,893,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

James Hardie Industries Company Profile

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.