James Hardie Industries (NYSE:JHX) Price Target Raised to $33.00

James Hardie Industries (NYSE:JHX) had its price objective boosted by Stephens from $31.00 to $33.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the construction company’s stock.

A number of other brokerages have also recently commented on JHX. Zacks Research raised shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Barclays reissued a “positive” rating on shares of James Hardie Industries in a research report on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

James Hardie Industries Stock Up 1.3%

Shares of NYSE JHX opened at $26.52 on Tuesday. The company has a market capitalization of $15.39 billion, a P/E ratio of 120.57 and a beta of 1.77. James Hardie Industries has a 52-week low of $16.46 and a 52-week high of $29.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.58. The company’s 50 day moving average price is $24.64 and its 200-day moving average price is $22.85.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in James Hardie Industries by 17.0% during the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock worth $1,197,000 after acquiring an additional 7,396 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in James Hardie Industries by 160.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after purchasing an additional 1,662,743 shares during the period. Jane Street Group LLC increased its stake in James Hardie Industries by 222.4% in the first quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock valued at $6,573,000 after purchasing an additional 192,478 shares in the last quarter. Russell Investments Group Ltd. increased its stake in James Hardie Industries by 49.2% in the second quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company’s stock valued at $312,000 after purchasing an additional 3,827 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake 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 valued at $40,000 after purchasing an additional 1,461 shares in the last quarter. Institutional investors and hedge funds 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.