James Hardie Industries (NYSE:JHX) Raised to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of James Hardie Industries (NYSE:JHX) from a neutral rating to an overweight rating in a research note published on Wednesday, MarketBeat Ratings reports.

Separately, StockNews.com upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th.

James Hardie Industries Trading Down 1.7 %

NYSE:JHX opened at $31.79 on Wednesday. The company has a market cap of $13.65 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 3.69 and a beta of 1.76. The company has a current ratio of 1.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $35.94 and a two-hundred day simple moving average of $34.45. James Hardie Industries has a 12 month low of $28.46 and a 12 month high of $43.57.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Tuesday, August 13th. The construction company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. James Hardie Industries had a return on equity of 38.01% and a net margin of 12.78%. The company had revenue of $991.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. James Hardie Industries’s revenue was up 3.9% compared to the same quarter last year. Research analysts forecast that James Hardie Industries will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in James Hardie Industries by 55.7% in the second quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock worth $33,000 after buying an additional 374 shares in the last quarter. GAMMA Investing LLC increased its holdings in James Hardie Industries by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock worth $55,000 after acquiring an additional 432 shares in the last quarter. Huntington National Bank bought a new stake in James Hardie Industries during the 3rd quarter worth approximately $55,000. Allspring Global Investments Holdings LLC purchased a new position in James Hardie Industries during the first quarter valued at approximately $71,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of James Hardie Industries in the second quarter worth approximately $66,000. 7.96% of the stock is owned by institutional investors.

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.