James Hardie Industries (NYSE:JHX) Given New $22.00 Price Target at Barclays
by Kim Johansen · The Markets DailyJames Hardie Industries (NYSE:JHX – Get Free Report) had its target price decreased by equities research analysts at Barclays from $26.00 to $22.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Barclays‘s price objective would indicate a potential upside of 6.57% from the stock’s current price.
A number of other analysts have also commented on JHX. Zacks Research lowered James Hardie Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 11th. Finally, Truist Financial lifted their target price on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, James Hardie Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.13.
Check Out Our Latest Report on JHX
James Hardie Industries Stock Up 10.2%
JHX stock traded up $1.90 on Wednesday, reaching $20.64. 4,589,331 shares of the company traded hands, compared to its average volume of 6,646,299. James Hardie Industries has a one year low of $16.46 and a one year high of $29.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.54 and a quick ratio of 0.95. The company has a market cap of $8.87 billion, a P/E ratio of 76.69, a price-to-earnings-growth ratio of 3.48 and a beta of 1.84. The firm has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $21.08.
James Hardie Industries (NYSE:JHX – Get Free Report) last posted its earnings results on Tuesday, February 10th. The construction company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.21 billion. James Hardie Industries had a return on equity of 13.52% and a net margin of 2.70%.The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. Research analysts anticipate that James Hardie Industries will post 1.39 earnings per share for the current year.
Hedge Funds Weigh In On James Hardie Industries
A number of institutional investors and hedge funds have recently modified their holdings of JHX. Modus Advisors LLC purchased a new position in shares of James Hardie Industries in the 4th quarter worth $31,000. Global Retirement Partners LLC raised its holdings in James Hardie Industries by 3,431.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,544 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in James Hardie Industries by 11,238.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,461 shares during the period. 1620 Investment Advisors Inc. bought a new stake in James Hardie Industries during the fourth quarter valued at about $41,000. Finally, Hilltop National Bank bought a new stake in shares of James Hardie Industries in the fourth quarter worth about $47,000. 7.96% of the stock is currently 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.