Robert W. Baird Issues Pessimistic Forecast for James Hardie Industries (NYSE:JHX) Stock Price

James Hardie Industries (NYSE:JHX) had its target price dropped by research analysts at Robert W. Baird from $34.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 30.34% from the stock’s previous close.

Several other research analysts also recently commented on the company. Barclays raised James Hardie Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $26.00 to $35.00 in a report on Monday, August 10th. Oppenheimer reissued an “outperform” rating and issued a $36.00 price target on shares of James Hardie Industries in a research note on Wednesday, September 16th. UBS Group restated a “buy” rating on shares of James Hardie Industries in a research report on Wednesday, September 16th. Raymond James Financial set a $36.00 price objective on James Hardie Industries in a research report on Tuesday, October 6th. Finally, Melius Research assumed coverage on James Hardie Industries in a research note on Tuesday, October 6th. They issued a “buy” rating and a $36.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, James Hardie Industries presently has an average rating of “Moderate Buy” and a consensus target price of $33.89.

James Hardie Industries Trading Down 0.5%

Shares of NYSE JHX opened at $24.55 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59. James Hardie Industries has a 52-week low of $16.46 and a 52-week high of $31.43. The firm has a 50 day moving average price of $27.96 and a two-hundred day moving average price of $24.75. The stock has a market cap of $14.25 billion, a P/E ratio of 98.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.79.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 63.9% on a year-over-year basis. As a group, equities analysts forecast that James Hardie Industries will post 1.24 EPS for the current year.

Hedge Funds Weigh In On James Hardie Industries

A number of hedge funds have recently bought and sold shares of the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in James Hardie Industries in the first quarter worth $28,000. MidFirst Bank bought a new stake in James Hardie Industries in the fourth quarter valued at $65,000. GAMMA Investing LLC increased its stake in James Hardie Industries by 21.9% in the third quarter. GAMMA Investing LLC now owns 4,384 shares of the construction company’s stock valued at $111,000 after purchasing an additional 787 shares in the last quarter. Parallel Advisors LLC increased its stake in James Hardie Industries by 46.5% in the first quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company’s stock valued at $86,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Continuum Advisory LLC acquired a new position in shares of James Hardie Industries during the second quarter valued at about $131,000. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc is a building materials company that manufactures and markets fiber cement and fiber gypsum products. Its products are used primarily in residential and commercial construction, including exterior siding, trim, soffits, backer board, and interior wall and flooring applications.

The company sells products under brands that include Hardie, HardiePlank, HardiePanel, and HardieBacker. Its fiber cement products are designed to provide durability and resistance to moisture, fire, pests, and weathering, serving builders, contractors, architects, and homeowners.

James Hardie traces its origins to Australia in the late 19th century and has since expanded into an international building products company.