James Hardie Industries (NYSE:JHX) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

James Hardie Industries PLC. (NYSE:JHX) shares passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $27.01 and traded as high as $27.33. James Hardie Industries shares last traded at $27.23, with a volume of 7,340,483 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on JHX. Truist Financial upped their price target on James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $36.00 price target on shares of James Hardie Industries in a report on Wednesday, September 16th. Loop Capital assumed coverage on James Hardie Industries in a research report on Monday, September 14th. They set a “buy” rating and a $35.00 price objective for the company. Raymond James Financial set a $36.00 price objective on shares of James Hardie Industries in a report on Tuesday, October 6th. Finally, Zacks Research cut shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, James Hardie Industries presently has a consensus rating of “Moderate Buy” and an average price target of $33.89.

James Hardie Industries Stock Performance

The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 108.92, a PEG ratio of 2.75 and a beta of 1.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03. The firm has a 50 day moving average price of $27.01 and a 200-day moving average price of $24.38.

James Hardie Industries (NYSE:JHX) last released its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 63.9% compared to the same quarter last year. As a group, sell-side analysts expect that James Hardie Industries PLC. will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

Large investors have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in James Hardie Industries in the third quarter worth about $27,000. Reyes Financial Architecture Inc. acquired a new stake in James Hardie Industries during the third quarter valued at approximately $36,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in James Hardie Industries during the first quarter valued at approximately $28,000. Nisa Investment Advisors LLC lifted its holdings in James Hardie Industries by 348,600.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,487 shares of the construction company’s stock worth $88,000 after buying an additional 3,486 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in James Hardie Industries by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,384 shares of the construction company’s stock worth $111,000 after buying an additional 787 shares during the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

James Hardie Industries Company Profile

James Hardie Industries plc is a global building materials manufacturer specializing in fiber cement products. Its portfolio includes exterior siding, trim, soffits, backer board and related solutions used in residential and commercial construction, remodeling and repair projects.

The company markets products under brands including James Hardie, HardiePlank, HardiePanel and HardieBacker. Fiber cement is designed to provide durability and resistance to moisture, fire, pests and changing weather conditions, making it an alternative to materials such as wood, vinyl and traditional cement products.

Founded in Australia in 1888, James Hardie has expanded into an international building products business serving customers across North America, Australia and New Zealand, Europe and other selected markets.