James Hardie Industries (NYSE:JHX) Sees Large Volume Increase – Here’s What Happened

Shares of James Hardie Industries plc (NYSE:JHX) saw an uptick in trading volume on Monday . 467,377 shares were traded during trading, an increase of 424% from the previous session’s volume of 89,268 shares.The stock last traded at $24.36 and had previously closed at $29.28.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JHX. StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group restated a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Macquarie downgraded shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday. Finally, Truist Financial assumed coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, James Hardie Industries has an average rating of “Moderate Buy” and a consensus target price of $45.00.

James Hardie Industries Trading Down 19.1 %

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’s 50 day moving average price is $32.48 and its 200-day moving average price is $33.99. The stock has a market capitalization of $10.19 billion, a P/E ratio of 23.47, a P/E/G ratio of 6.16 and a beta of 1.84.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 earnings per share (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. As a group, equities research analysts expect that James Hardie Industries plc will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc purchased a new stake in James Hardie Industries during the fourth quarter valued at approximately $25,000. R Squared Ltd purchased a new stake in James Hardie Industries during the fourth quarter valued at approximately $27,000. TD Private Client Wealth LLC lifted its position in 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 acquiring an additional 303 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new stake in James Hardie Industries during the third quarter valued at approximately $64,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in James Hardie Industries during the third quarter valued at approximately $71,000. 7.96% of the stock is currently owned by 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.