James Hardie Industries (NYSE:JHX) Sets New 12-Month Low – What’s Next?

James Hardie Industries plc (NYSE:JHX) hit a new 52-week low during trading on Tuesday . The stock traded as low as $22.91 and last traded at $23.17, with a volume of 52977 shares traded. The stock had previously closed at $23.56.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on JHX shares. Bank of America upgraded shares of James Hardie Industries from an “underperform” rating to a “buy” rating and cut their target price for the company from $27.40 to $27.35 in a research note on Thursday, March 27th. Raymond James set a $55.00 target price on shares of James Hardie Industries in a research note on Monday, March 24th. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Morgan Stanley upgraded James Hardie Industries from an “equal weight” rating to an “overweight” rating in a report on Monday, March 24th. Finally, Truist Financial started coverage on shares of James Hardie Industries in a research report on Tuesday, December 10th. They set a “buy” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, James Hardie Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.45.

James Hardie Industries Stock Performance

The stock has a market cap of $10.00 billion, a P/E ratio of 23.04, a PEG ratio of 6.16 and a beta of 1.84. The stock has a fifty day simple moving average of $31.41 and a 200-day simple moving average of $33.49. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52.

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

Institutional Trading of James Hardie Industries

Several hedge funds have recently bought and sold shares of JHX. Versant Capital Management Inc bought a new stake in shares of James Hardie Industries during the fourth quarter worth $25,000. R Squared Ltd acquired a new position in James Hardie Industries during the 4th quarter worth approximately $27,000. TD Private Client Wealth LLC lifted its position in shares of James Hardie Industries by 45.3% in the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock worth $30,000 after purchasing an additional 303 shares in the last quarter. Aquatic Capital Management LLC bought a new position in James Hardie Industries in the fourth quarter valued at $55,000. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of James Hardie Industries during the 3rd quarter worth about $64,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

About James Hardie Industries

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.