Bank of America Corp. Upgrades James Hardie Industries SE to Buy (JHX)
James Hardie Industries SE (NYSE:JHX) was upgraded by Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Stock Ratings Network reports. The firm currently has a $59.78 price target on the stock, up from their previous price target of $52.00. Bank of America Corp.’s price target would suggest a potential upside of 33.59% from the company’s current price.
The analysts wrote, “James Hardies derives approx 80pct of earnings directly from the now recovering US housing sector which offers excellent LT earnings growth prospects when combined with expected market share gains. The valuation also benefits from a falling A$ and the balance sheet can facilitate continued strong capital management.”
JHX has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of James Hardie Industries SE (NYSE:JHX) from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, August 23rd. They now have a $48.30 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of James Hardie Industries SE (NYSE:JHX) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, July 8th.
One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $44.09.
James Hardie Industries SE (NYSE:JHX) traded down 1.39% on Thursday, hitting $44.13. 8,347 shares of the company’s stock traded hands. James Hardie Industries SE has a 52-week low of $39.97 and a 52-week high of $54.03. The stock’s 50-day moving average is $43.46 and its 200-day moving average is $47.7. The company has a market cap of $19.509 billion and a price-to-earnings ratio of 167.60.
James Hardie Industries SE, formerly James Hardie Industries N.V. is a manufacturer of fibre cement products and systems for internal and external building construction applications in the United States, Australia, New Zealand and Philippines.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.