Truist Financial Begins Coverage on James Hardie Industries (NYSE:JHX)

Truist Financial started coverage on shares of James Hardie Industries (NYSE:JHX) in a research note released on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $45.00 price objective on the construction company’s stock.

Several other equities research analysts have also issued reports on JHX. StockNews.com lowered James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, James Hardie Industries presently has a consensus rating of “Hold” and a consensus target price of $40.25.

James Hardie Industries Trading Down 1.1 %

NYSE JHX opened at $34.21 on Tuesday. The company’s fifty day moving average price is $34.95 and its two-hundred day moving average price is $34.48. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 4.45 and a beta of 1.77. James Hardie Industries has a 12 month low of $29.88 and a 12 month high of $43.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.02 and a quick ratio of 1.50.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. The business had revenue of $960.80 million during the quarter, compared to the consensus estimate of $973.49 million. During the same period last year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, research analysts predict that James Hardie Industries will post 1.47 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of large investors have recently modified their holdings of JHX. Franklin Resources Inc. increased its stake in shares of James Hardie Industries by 4.4% in the third quarter. Franklin Resources Inc. now owns 8,551 shares of the construction company’s stock valued at $315,000 after purchasing an additional 359 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in James Hardie Industries in the 3rd quarter valued at approximately $71,000. Sanctuary Advisors LLC bought a new stake in James Hardie Industries during the 3rd quarter valued at $708,000. M&T Bank Corp acquired a new position in James Hardie Industries during the 3rd quarter worth $293,000. Finally, Orion Portfolio Solutions LLC grew its stake in shares of James Hardie Industries by 145.8% in the third quarter. Orion Portfolio Solutions LLC now owns 29,150 shares of the construction company’s stock worth $1,170,000 after purchasing an additional 17,290 shares in the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

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.