James Hardie Industries (NYSE:JHX) Sees Unusually-High Trading Volume – What’s Next?

Shares of James Hardie Industries plc (NYSE:JHX) saw unusually-high trading volume on Monday . Approximately 467,377 shares were traded during mid-day trading, an increase of 424% from the previous session’s volume of 89,268 shares.The stock last traded at $24.36 and had previously closed at $29.28.

Wall Street Analyst Weigh In

JHX has been the topic of several analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. Morgan Stanley upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research report on Monday. Macquarie lowered shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a report on Monday. Truist Financial initiated coverage on shares of James Hardie Industries in a report on Tuesday, December 10th. They set a “buy” rating and a $45.00 price target on the stock. Finally, StockNews.com raised shares of James Hardie Industries from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, James Hardie Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

James Hardie Industries Stock Down 2.1 %

The company’s 50 day moving average is $32.18 and its 200 day moving average is $33.82. The company has a market cap of $10.21 billion, a PE ratio of 23.52, a P/E/G ratio of 6.16 and a beta of 1.84. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 predict 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

Several hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in shares of James Hardie Industries during the fourth quarter valued at $25,000. R Squared Ltd purchased a new position in James Hardie Industries during the 4th quarter valued at about $27,000. TD Private Client Wealth LLC raised its holdings in shares of James Hardie Industries by 45.3% in the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock valued at $30,000 after purchasing an additional 303 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new stake in shares of James Hardie Industries in the 3rd quarter worth approximately $64,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of James Hardie Industries during the third quarter valued at approximately $71,000. 7.96% of the stock is currently owned by hedge funds and other 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.