James Hardie Industries (NYSE:JHX) Sets New 1-Year Low – Here’s What Happened

James Hardie Industries plc (NYSE:JHX) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $28.78 and last traded at $28.92, with a volume of 70672 shares changing hands. The stock had previously closed at $31.36.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JHX shares. StockNews.com raised shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial started coverage on shares of James Hardie Industries in a research report on Tuesday, December 10th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $45.00.

James Hardie Industries Trading Up 1.6 %

The firm has a market cap of $12.59 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 6.16 and a beta of 1.84. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $32.48 and its 200 day simple moving average is $34.03.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $953.30 million for the quarter, compared to analyst estimates of $967.63 million. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. As a group, analysts expect that James Hardie Industries plc will post 1.39 earnings per share for the current year.

Institutional Trading of James Hardie Industries

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new stake in James Hardie Industries in the fourth quarter worth about $25,000. R Squared Ltd purchased a new position in shares of James Hardie Industries in the fourth quarter worth about $27,000. TD Private Client Wealth LLC increased its stake in shares of James Hardie Industries by 45.3% in the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock worth $30,000 after purchasing an additional 303 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new position in shares of James Hardie Industries in the third quarter worth about $64,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of James Hardie Industries in the third quarter worth about $71,000. Institutional investors own 7.96% of the company’s stock.

About James Hardie Industries

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.