James Hardie Industries (NYSE:JHX) Shares Pass Above 200 Day Moving Average – Should You Sell?

James Hardie Industries PLC. (NYSE:JHX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.32 and traded as high as $24.70. James Hardie Industries shares last traded at $24.3070, with a volume of 6,971,119 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on JHX. Barclays reduced their price target on James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Zacks Research downgraded James Hardie Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 21st. Finally, Stephens assumed coverage on shares of James Hardie Industries in a report on Thursday, June 25th. They issued an “overweight” rating and a $31.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.56.

James Hardie Industries Stock Down 3.0%

The company has a 50-day moving average price of $22.92 and a 200 day moving average price of $22.32. The firm has a market capitalization of $14.11 billion, a PE ratio of 110.49 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 (NYSE:JHX) last released its quarterly earnings data 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 return on equity of 11.13% and a net margin of 2.15%.The business’s quarterly revenue was up 44.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. Analysts forecast that James Hardie Industries PLC. will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

A number of hedge funds and other institutional investors have recently modified their holdings of JHX. Blue Trust Inc. grew its stake in James Hardie Industries by 14.7% during the first quarter. Blue Trust Inc. now owns 6,890 shares of the construction company’s stock valued at $130,000 after acquiring an additional 884 shares in the last quarter. Xponance LLC lifted its position in shares of James Hardie Industries by 5.7% in the fourth quarter. Xponance LLC now owns 16,879 shares of the construction company’s stock worth $350,000 after buying an additional 911 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of James Hardie Industries by 16.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,684 shares of the construction company’s stock worth $139,000 after buying an additional 936 shares in the last quarter. Osaic Holdings Inc. boosted its stake in James Hardie Industries by 67.1% during the second quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company’s stock valued at $67,000 after buying an additional 1,034 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in James Hardie Industries by 46.5% during the first quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock valued at $86,000 after buying an additional 1,439 shares during the last quarter. 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.