James Hardie Industries (NYSE:JHX) Hits New 52-Week Low – What’s Next?

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JHX shares. Raymond James set a $55.00 price objective on James Hardie Industries in a research note on Monday. StockNews.com upgraded James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Truist Financial started coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 target price on the stock. Bank of America upgraded shares of James Hardie Industries from an “underperform” rating to a “buy” rating and decreased their price target for the stock from $27.40 to $27.35 in a research note on Thursday. Finally, Morgan Stanley raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research report on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.45.

James Hardie Industries Price Performance

The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $31.80 and a 200-day moving average of $33.68. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 6.16 and a beta of 1.84.

James Hardie Industries (NYSE:JHX) last posted 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. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. The firm had revenue of $953.30 million for the quarter, compared to the consensus estimate of $967.63 million. On average, equities research analysts predict that James Hardie Industries plc will post 1.39 EPS for the current fiscal year.

Institutional Trading of James Hardie Industries

Several institutional investors and hedge funds have recently made changes to their positions in JHX. Forum Financial Management LP increased its position in James Hardie Industries by 63.6% during the fourth quarter. Forum Financial Management LP now owns 8,694 shares of the construction company’s stock worth $268,000 after buying an additional 3,381 shares during the period. GTS Securities LLC purchased a new position in shares of James Hardie Industries during the fourth quarter worth approximately $401,000. Quantinno Capital Management LP increased its holdings in shares of James Hardie Industries by 9.1% in the 4th quarter. Quantinno Capital Management LP now owns 63,915 shares of the construction company’s stock valued at $1,969,000 after acquiring an additional 5,339 shares during the period. Millennium Management LLC increased its holdings in shares of James Hardie Industries by 14.8% in the 4th quarter. Millennium Management LLC now owns 19,561 shares of the construction company’s stock valued at $603,000 after acquiring an additional 2,524 shares during the period. Finally, Lazard Asset Management LLC raised its position in James Hardie Industries by 20.0% in the 4th quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company’s stock valued at $29,718,000 after purchasing an additional 161,059 shares during the last quarter. 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.