James Hardie Industries (NYSE:JHX – Get Note) was upgraded by Morgan Stanley from a “weighted” rating to an “overweight” rating in a research report released Tuesday to clients and investors, reports The Fly.
A number of other stock analysts have also recently released reports on JHX. Zacks Investment Research downgraded James Hardie Industries from a “buy” rating to a “hold” rating in a Tuesday, April 5 research note. CLSA upgraded shares of James Hardie Industries from an “underperforming” rating to an “outperforming” rating in a Monday, February 7, research report. Finally, StockNews.com began covering James Hardie Industries stocks in a research report on Thursday, March 31. They set a “buy” rating on the stock. One analyst rated the stock with a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $45.00.
JHX stock traded down $0.51 during the midday session on Tuesday, hitting $26.75. 2,815 shares of the company have been traded, against an average volume of 77,845. The stock has a market capitalization of $11.91 billion, a price-earnings ratio of 23.67 and a beta of 1.29. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt ratio of 0.70. James Hardie Industries has a fifty-two week low of $26.02 and a fifty-two week high of $41.85. The company’s 50-day moving average price is $30.33 and its 200-day moving average price is $34.78.
Several institutional investors have recently bought and sold shares of the company. Raymond James & Associates increased its stake in shares of James Hardie Industries by 6.8% in the third quarter. Raymond James & Associates now owns 8,274 shares of the construction company worth $295,000 after purchasing an additional 524 shares during the period. Russell Investments Group Ltd. increased its holdings of James Hardie Industries shares by 3.2% in the fourth quarter. Russell Investments Group Ltd. now owns 233,615 shares of the construction company worth $9,506,000 after purchasing an additional 7,182 shares during the period. Quadrant Capital Group LLC increased its equity stake in James Hardie Industries by 11.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,147 shares of the construction company worth $413,000 after purchasing an additional 1,036 shares during the period. US Bancorp DE increased its stake in James Hardie Industries shares by 7.4% in the third quarter. US Bancorp DE now owns 20,971 shares of the construction company worth $748,000 after purchasing an additional 1,444 shares during the period. Finally, Lake Street Advisors Group LLC increased its stake in James Hardie Industries shares by 14.1% in the third quarter. Lake Street Advisors Group LLC now owns 11,941 shares of the construction company worth $426,000 after purchasing an additional 1,476 shares during the period. 17.17% of the shares are currently held by hedge funds and other institutional investors.
About James Hardie Industries (Get a rating)
James Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement, fiber cement and cement building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand , the Philippines and Canada.
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