James Hardie Industries (NYSE:JHX) Upgraded to Buy by Bank of America

Bank of America upgraded shares of James Hardie Industries (NYSE:JHX) from an underperform rating to a buy rating in a report published on Thursday morning, Briefing.com Automated Import reports.

Several other analysts have also weighed in on the stock. TheStreet raised shares of James Hardie Industries from a c+ rating to a b rating in a report on Friday, August 23rd. CLSA started coverage on shares of James Hardie Industries in a report on Monday, November 4th. They set an underperform rating for the company. UBS Group raised shares of James Hardie Industries from a neutral rating to a buy rating in a report on Monday, August 12th. ValuEngine raised shares of James Hardie Industries from a strong sell rating to a sell rating in a report on Friday, November 1st. Finally, Royal Bank of Canada started coverage on shares of James Hardie Industries in a report on Thursday, August 29th. They set an underperform rating for the company. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold.

JHX traded up $0.12 during midday trading on Thursday, reaching $19.10. 13,328 shares of the company’s stock were exchanged, compared to its average volume of 16,735. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 32.96 and a beta of 0.74. The company has a quick ratio of 0.69, a current ratio of 1.18 and a debt-to-equity ratio of 1.38. James Hardie Industries has a one year low of $10.00 and a one year high of $19.23. The business has a 50-day simple moving average of $17.10 and a two-hundred day simple moving average of $14.64.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $0.20 EPS for the quarter. The firm had revenue of $656.80 million during the quarter. James Hardie Industries had a net margin of 8.94% and a return on equity of 24.50%.

Several hedge funds and other institutional investors have recently bought and sold shares of JHX. Renaissance Technologies LLC increased its holdings in shares of James Hardie Industries by 3.3% during the second quarter. Renaissance Technologies LLC now owns 324,727 shares of the construction company’s stock worth $4,290,000 after buying an additional 10,400 shares in the last quarter. Northern Trust Corp increased its holdings in shares of James Hardie Industries by 2.9% during the second quarter. Northern Trust Corp now owns 435,975 shares of the construction company’s stock worth $5,759,000 after buying an additional 12,173 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of James Hardie Industries by 5.6% during the second quarter. Parametric Portfolio Associates LLC now owns 1,109,284 shares of the construction company’s stock worth $14,654,000 after buying an additional 58,449 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of James Hardie Industries by 15.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 17,407 shares of the construction company’s stock worth $229,000 after buying an additional 2,392 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its holdings in shares of James Hardie Industries by 10.2% during the third quarter. Wetherby Asset Management Inc. now owns 27,124 shares of the construction company’s stock worth $456,000 after buying an additional 2,521 shares in the last quarter. 0.65% of the stock is owned by institutional investors.

James Hardie Industries Company Profile

James Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement siding and backer board products. It operates through North America Fiber Cement, International Fiber Cement, Other Businesses, and Research and Development segments. The company offers fiber cement interior linings, exterior siding products, fiberglass windows, and related accessories products; fiber cement building materials for a range of applications, including external siding, internal walls, floors, ceilings, soffits, trim, fencing, decking, and facades; floor underlayments; planks, which are used in external siding; flat panels for internal and external wall linings; gypsum fiber boards; and cement-bonded boards.

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