Barclays Forecasts Strong Price Appreciation for James Hardie Industries (NYSE:JHX) Stock

James Hardie Industries (NYSE:JHX) had its price target raised by analysts at Barclays from $25.00 to $26.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Barclays‘s target price would indicate a potential downside of 1.94% from the company’s current price.

JHX has been the topic of several other research reports. Stephens assumed coverage on shares of James Hardie Industries in a research note on Thursday, June 25th. They issued an “overweight” rating and a $31.00 price target on the stock. Zacks Research upgraded James Hardie Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.11.

James Hardie Industries Trading Up 2.5%

James Hardie Industries stock opened at $26.52 on Friday. The stock has a market cap of $15.39 billion, a P/E ratio of 120.53 and a beta of 1.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.03. James Hardie Industries has a 1 year low of $16.46 and a 1 year high of $29.83. The firm’s 50 day moving average price is $24.12 and its 200-day moving average price is $22.69.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in James Hardie Industries by 259.7% during the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock valued at $972,981,000 after purchasing an additional 36,567,726 shares in the last quarter. JPMorgan Chase & Co. lifted its position in James Hardie Industries by 22.2% during the fourth quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company’s stock valued at $201,071,000 after purchasing an additional 1,758,111 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of James Hardie Industries by 14.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,166,115 shares of the construction company’s stock worth $107,197,000 after buying an additional 634,354 shares in the last quarter. Hill City Capital LP grew its stake in shares of James Hardie Industries by 21.4% in the 4th quarter. Hill City Capital LP now owns 5,120,200 shares of the construction company’s stock worth $106,244,000 after buying an additional 901,700 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of James Hardie Industries by 48.5% in the 1st quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock worth $72,720,000 after buying an additional 1,254,400 shares during the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.