James Hardie Industries (NYSE:JHX) Releases Earnings Results, Beats Expectations By $0.01 EPS

James Hardie Industries (NYSE:JHX) issued its earnings results on Tuesday. The construction company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01, Zacks reports. James Hardie Industries had a return on equity of 13.52% and a net margin of 2.70%.The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion.

James Hardie Industries Price Performance

NYSE JHX traded down $1.11 during trading hours on Tuesday, reaching $18.71. The company’s stock had a trading volume of 11,055,163 shares, compared to its average volume of 6,723,581. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 69.29, a P/E/G ratio of 4.50 and a beta of 1.79. James Hardie Industries has a 1-year low of $16.46 and a 1-year high of $29.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.54 and a quick ratio of 0.95. The company’s 50-day moving average is $20.25 and its two-hundred day moving average is $21.09.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial upped their target price on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Barclays lowered their target price on James Hardie Industries from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 11th. Finally, Zacks Research downgraded James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.13.

Institutional Investors Weigh In On James Hardie Industries

Several large investors have recently bought and sold shares of JHX. Northwestern Mutual Wealth Management Co. grew its position in James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after acquiring an additional 1,461 shares during the period. Global Retirement Partners LLC grew its position in James Hardie Industries by 3,431.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,544 shares during the period. Los Angeles Capital Management LLC purchased a new position in James Hardie Industries in the fourth quarter worth approximately $52,000. Osaic Holdings Inc. grew its position in James Hardie Industries by 67.1% in the second quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company’s stock worth $67,000 after acquiring an additional 1,034 shares during the period. Finally, Empowered Funds LLC purchased a new position in James Hardie Industries in the fourth quarter worth approximately $107,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

About James Hardie Industries

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.