James Hardie Industries (NYSE:JHX) Shares Gap Down – Here’s Why

James Hardie Industries plc (NYSE:JHX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $32.07, but opened at $30.96. James Hardie Industries shares last traded at $31.01, with a volume of 6,958 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com cut James Hardie Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Truist Financial started coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Jefferies Financial Group restated a “buy” rating on shares of James Hardie Industries in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, James Hardie Industries currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

James Hardie Industries Price Performance

The stock has a market cap of $13.44 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 6.16 and a beta of 1.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.18. The firm has a 50-day moving average price of $32.55 and a 200-day moving average price of $34.14.

James Hardie Industries (NYSE:JHX) last released its earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $953.30 million during 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%. On average, analysts forecast that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On James Hardie Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its holdings in shares of James Hardie Industries by 20.0% in the fourth quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company’s stock worth $29,718,000 after buying an additional 161,059 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of James Hardie Industries by 19.4% in the fourth quarter. Bank of America Corp DE now owns 453,206 shares of the construction company’s stock worth $13,963,000 after acquiring an additional 73,504 shares during the period. Northern Trust Corp raised its stake in James Hardie Industries by 76.3% during the 4th quarter. Northern Trust Corp now owns 374,164 shares of the construction company’s stock valued at $11,528,000 after purchasing an additional 161,899 shares during the period. Natixis Advisors LLC raised its stake in James Hardie Industries by 10.3% during the 4th quarter. Natixis Advisors LLC now owns 190,243 shares of the construction company’s stock valued at $5,861,000 after purchasing an additional 17,783 shares during the period. Finally, FMR LLC lifted its holdings in shares of James Hardie Industries by 22.5% in the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock worth $6,435,000 after buying an additional 29,401 shares in the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

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.