James Hardie Industries’ (JHX) Outperform Rating Reiterated at Oppenheimer

by · The Markets Daily

Oppenheimer reiterated their outperform rating on shares of James Hardie Industries (NYSE:JHX – Free Report) in a research note published on Wednesday morning,Benzinga reports. Oppenheimer currently has a $36.00 price objective on the construction company’s stock.

Several other equities analysts have also weighed in on JHX. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a research report on Friday, August 7th. Truist Financial boosted their target price on shares of James Hardie Industries from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Raymond James Financial set a $35.00 target price on shares of James Hardie Industries in a research note on Monday, August 10th. Barclays upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $26.00 to $35.00 in a report on Monday, August 10th. Finally, Zacks Research upgraded James Hardie Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.78.

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James Hardie Industries Stock Performance

JHX opened at $25.88 on Wednesday. The business has a 50 day moving average price of $28.25 and a two-hundred day moving average price of $24.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 103.51, a price-to-earnings-growth ratio of 2.14 and a beta of 1.77. James Hardie Industries has a 1-year low of $16.46 and a 1-year high of $31.43.

James Hardie Industries (NYSE:JHX – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 63.9% on a year-over-year basis. Research analysts predict that James Hardie Industries will post 1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in James Hardie Industries by 14.7% during the 1st quarter. Blue Trust Inc. now owns 6,890 shares of the construction company’s stock worth $130,000 after purchasing an additional 884 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of James Hardie Industries by 46.5% in the first quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock valued at $86,000 after purchasing an additional 1,439 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of James Hardie Industries in the first quarter valued at $28,000. Modus Advisors LLC acquired a new stake in shares of James Hardie Industries in the fourth quarter worth $31,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of James Hardie Industries by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 169,788 shares of the construction company’s stock worth $3,205,000 after buying an additional 1,721 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

(Get Free Report)

James Hardie Industries plc is a building materials company specializing in fiber cement and fiber gypsum products. Its products are used in residential and commercial construction, remodeling and repair applications, including exterior siding, trim, soffits, weatherboard, roofing components and interior wall systems.

The company markets products under brands that include Hardie and Fermacell. Its fiber cement materials are designed to provide durability and resistance to fire, moisture, pests and weather, serving applications where alternatives such as wood, vinyl or traditional gypsum may be used.

Founded in Australia in 1888, James Hardie has developed into an international manufacturer and supplier serving customers across North America, Australia and New Zealand, Europe and other markets.

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