James Hardie Industries (NYSE:JHX) Upgraded at Bank of America

James Hardie Industries (NYSE:JHX) was upgraded by Bank of America from an “underperform” rating to a “buy” rating in a research report issued on Thursday,Finviz reports. The brokerage presently has a $27.35 target price on the construction company’s stock, down from their prior target price of $27.40. Bank of America‘s price target suggests a potential upside of 11.59% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded 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 shares of James Hardie Industries in a research report on Monday. Morgan Stanley upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a report on Monday. Jefferies Financial Group reiterated a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. Finally, Truist Financial started coverage on James Hardie Industries in a research note on Tuesday, December 10th. They set a “buy” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.45.

James Hardie Industries Price Performance

JHX stock traded up $0.66 during mid-day trading on Thursday, reaching $24.51. The company’s stock had a trading volume of 5,536,342 shares, compared to its average volume of 189,896. The stock has a market cap of $10.53 billion, a PE ratio of 24.11, a P/E/G ratio of 6.16 and a beta of 1.84. The company’s 50 day moving average is $32.00 and its two-hundred day moving average is $33.75. James Hardie Industries has a fifty-two week low of $23.23 and a fifty-two week high of $43.57. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $953.30 million for the quarter, compared to the consensus estimate of $967.63 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. Equities research analysts expect that James Hardie Industries will post 1.39 EPS for the current year.

Institutional Investors Weigh In On James Hardie Industries

Several large investors have recently bought and sold shares of the stock. Pathstone Holdings LLC grew its holdings in James Hardie Industries by 5.2% during the 3rd quarter. Pathstone Holdings LLC now owns 41,798 shares of the construction company’s stock worth $1,678,000 after acquiring an additional 2,060 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of James Hardie Industries by 67.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 51,074 shares of the construction company’s stock worth $2,051,000 after acquiring an additional 20,496 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of James Hardie Industries by 58.8% in the 3rd quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock valued at $1,517,000 after acquiring an additional 13,981 shares during the last quarter. FMR LLC lifted its stake in James Hardie Industries by 22.5% during the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock worth $6,435,000 after purchasing an additional 29,401 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new position in James Hardie Industries in the third quarter valued at approximately $227,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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.