James Hardie Industries (NYSE:JHX) Shares Cross Above 200 Day Moving Average – Here’s Why

James Hardie Industries PLC. (NYSE:JHX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.06 and traded as high as $24.01. James Hardie Industries shares last traded at $23.99, with a volume of 5,161,480 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on JHX shares. Truist Financial upped their price target on shares of James Hardie Industries from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Robert W. Baird dropped their price target on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Raymond James Financial set a $21.00 price objective on James Hardie Industries in a report on Monday, December 8th. CLSA raised James Hardie Industries to a “hold” rating in a report on Wednesday, October 8th. Finally, Citigroup raised shares of James Hardie Industries from a “neutral” rating to a “buy” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.93.

James Hardie Industries Price Performance

The company’s 50-day moving average is $20.07 and its 200-day moving average is $21.99. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 8.82 and a beta of 1.80. The company has a current ratio of 1.79, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80.

James Hardie Industries (NYSE:JHX) last released its earnings results on Monday, November 17th. The construction company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The company’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. Equities research analysts predict that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in James Hardie Industries by 259.7% in the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after purchasing an additional 36,567,726 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of James Hardie Industries by 6.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company’s stock worth $261,273,000 after purchasing an additional 882,795 shares during the last quarter. Phoenix Financial Ltd. acquired a new position in shares of James Hardie Industries in the third quarter valued at approximately $105,839,000. Alyeska Investment Group L.P. raised its holdings in James Hardie Industries by 100.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company’s stock valued at $87,055,000 after buying an additional 2,275,762 shares during the last quarter. Finally, Capital World Investors acquired a new stake in James Hardie Industries during the 3rd quarter worth approximately $86,121,000. 7.96% of the stock is currently 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.