James Hardie Industries (NYSE:JHX) Hits New 52-Week Low – Time to Sell?

James Hardie Industries plc (NYSE:JHX)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $23.23 and last traded at $23.48, with a volume of 1038150 shares trading hands. The stock had previously closed at $23.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Raymond James set a $55.00 price target on James Hardie Industries in a report on Monday. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Macquarie lowered James Hardie Industries from an “outperform” rating to a “neutral” rating in a research report on Monday. Finally, Truist Financial initiated coverage on James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, James Hardie Industries presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

James Hardie Industries Trading Down 1.4 %

The firm’s 50 day simple moving average is $32.18 and its two-hundred day simple moving average is $33.82. The stock has a market capitalization of $10.08 billion, a P/E ratio of 23.22, a P/E/G ratio of 6.16 and a beta of 1.84. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $953.30 million during the quarter, compared to analyst estimates of $967.63 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. As a group, analysts forecast that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

A number of institutional investors have recently modified their holdings of JHX. Versant Capital Management Inc acquired a new stake in James Hardie Industries in the 4th quarter valued at $25,000. R Squared Ltd bought a new position in shares of James Hardie Industries in the fourth quarter valued at $27,000. TD Private Client Wealth LLC grew its holdings in shares of James Hardie Industries by 45.3% during the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock valued at $30,000 after buying an additional 303 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of James Hardie Industries during the fourth quarter worth about $55,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of James Hardie Industries during the third quarter worth about $64,000. 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.