Short Interest in James Hardie Industries PLC. (NYSE:JHX) Rises By 30.5%

James Hardie Industries PLC. (NYSE:JHX) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 13,622,914 shares, an increase of 30.5% from the December 31st total of 10,442,109 shares. Based on an average trading volume of 5,846,866 shares, the short-interest ratio is presently 2.3 days. Approximately 3.2% of the shares of the company are short sold. Approximately 3.2% of the shares of the company are short sold. Based on an average trading volume of 5,846,866 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JHX shares. Truist Financial boosted their price objective on James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Robert W. Baird decreased their price target on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Raymond James Financial set a $21.00 price target on shares of James Hardie Industries in a research note on Monday, December 8th. Zacks Research upgraded James Hardie Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Finally, Oppenheimer raised their price objective on shares of James Hardie Industries from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, James Hardie Industries has an average rating of “Moderate Buy” and an average price target of $25.93.

James Hardie Industries Stock Down 0.1%

Shares of JHX stock traded down $0.02 on Monday, reaching $22.98. 5,457,999 shares of the company’s stock traded hands, compared to its average volume of 6,394,082. The company has a market capitalization of $9.88 billion, a P/E ratio of 47.86, a price-to-earnings-growth ratio of 7.39 and a beta of 1.80. James Hardie Industries has a 12-month low of $16.46 and a 12-month high of $34.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.79. The business’s 50 day moving average price is $21.46 and its two-hundred day moving average price is $21.66.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. James Hardie Industries had a net margin of 4.67% and a return on equity of 18.40%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 34.5% on a year-over-year basis. On average, equities analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current year.

Institutional Trading of James Hardie Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in James Hardie Industries by 259.7% during the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock valued at $972,981,000 after purchasing an additional 36,567,726 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of James Hardie Industries by 241.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock valued at $341,989,000 after buying an additional 8,988,938 shares in the last quarter. Phoenix Financial Ltd. bought a new stake in James Hardie Industries during the 3rd quarter worth approximately $105,839,000. Capital World Investors bought a new stake in shares of James Hardie Industries during the third quarter worth $86,121,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of James Hardie Industries by 1,883.6% during the second quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock worth $104,177,000 after buying an additional 3,678,889 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.