James Hardie Industries (NYSE:JHX) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

James Hardie Industries PLC. (NYSE:JHX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.06 and traded as high as $24.01. James Hardie Industries shares last traded at $23.99, with a volume of 5,161,480 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on JHX. Barclays initiated coverage on James Hardie Industries in a research report on Monday, December 8th. They issued an “equal weight” rating and a $21.00 target price on the stock. CLSA upgraded shares of James Hardie Industries to a “hold” rating in a research report on Wednesday, October 8th. Zacks Research downgraded shares of James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 17th. Wolfe Research initiated coverage on shares of James Hardie Industries in a research note on Tuesday, September 30th. They set an “outperform” rating and a $25.00 target price for the company. Finally, Truist Financial upped their target price on shares of James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.93.

James Hardie Industries Stock Performance

The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 49.98, a PEG ratio of 8.83 and a beta of 1.80. The company’s 50 day simple moving average is $19.95 and its 200 day simple moving average is $22.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.79.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. James Hardie Industries had a net margin of 4.67% and a return on equity of 18.40%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue was up 34.5% on a year-over-year basis. On average, equities research analysts anticipate that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

Several hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC lifted its holdings in shares of James Hardie Industries by 70.4% in the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $30,000 after buying an additional 455 shares during the period. Hantz Financial Services Inc. raised its position in James Hardie Industries by 641.2% in the second quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,058 shares in the last quarter. MAI Capital Management raised its position in James Hardie Industries by 4,266.7% in the second quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock worth $35,000 after acquiring an additional 1,280 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in James Hardie Industries by 11,238.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,461 shares during the last quarter. Finally, Hilltop National Bank bought a new position in shares of James Hardie Industries during the 4th quarter valued at about $47,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Company Profile

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.