James Hardie Industries (NYSE:JHX) Hits New 12-Month High – Time to Buy?

Shares of James Hardie Industries PLC. (NYSE:JHX) hit a new 52-week high during trading on Thursday . The stock traded as high as $31.24 and last traded at $30.78, with a volume of 5451763 shares traded. The stock had previously closed at $31.08.

Analyst Ratings Changes

Several research firms have recently weighed in on JHX. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a research note on Friday, August 7th. Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Stephens raised their price target on shares of James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Truist Financial lifted their price target on shares of James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a report on Monday. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

James Hardie Industries Stock Performance

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 company has a fifty day moving average price of $25.84 and a 200 day moving average price of $23.19. The stock has a market cap of $17.86 billion, a P/E ratio of 123.12, a P/E/G ratio of 1.95 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the business earned $0.29 EPS. James Hardie Industries’s quarterly revenue was up 63.9% compared to the same quarter last year. On average, equities analysts expect that James Hardie Industries PLC. will post 1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in James Hardie Industries during the 1st quarter valued at about $28,000. Modus Advisors LLC purchased a new stake in shares of James Hardie Industries in the fourth quarter worth approximately $31,000. Global Retirement Partners LLC raised its stake in shares of 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 purchasing an additional 1,544 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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. Finally, 1620 Investment Advisors Inc. bought a new position in shares of James Hardie Industries in the fourth quarter valued at approximately $41,000. 7.96% of the stock is owned by 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.