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

James Hardie Industries PLC. (NYSE:JHX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.96 and traded as high as $26.70. James Hardie Industries shares last traded at $26.0390, with a volume of 8,923,839 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research downgraded James Hardie Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. Stephens initiated coverage on shares of James Hardie Industries in a research report on Thursday. They issued an “overweight” rating and a $31.00 price objective on the stock. Finally, Barclays lowered their target price on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.56.

James Hardie Industries Price Performance

The company has a market capitalization of $15.11 billion, a PE ratio of 118.36 and a beta of 1.80. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average is $22.18 and its 200-day moving average is $21.96.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue was up 44.5% compared to the same quarter last year. Equities analysts predict that James Hardie Industries PLC. will post 1.24 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

A number of hedge funds have recently bought and sold shares of JHX. Wellington Management Group LLP boosted its stake in James Hardie Industries by 259.7% in the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after buying an additional 36,567,726 shares in the last quarter. Capital World Investors purchased a new position in shares of James Hardie Industries during the third quarter worth approximately $86,121,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of James Hardie Industries in the 4th quarter worth approximately $77,530,000. RDST Capital LLC purchased a new stake in shares of James Hardie Industries in the 4th quarter valued at $55,893,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of James Hardie Industries in the 4th quarter valued at $53,641,000. Institutional investors own 7.96% of the company’s stock.

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.