Bank of America Upgrades James Hardie Industries (NYSE:JHX) to “Buy”

James Hardie Industries (NYSE:JHX) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued on Thursday, Marketbeat Ratings reports.

JHX has been the subject of a number of other reports. TheStreet upgraded James Hardie Industries from a “c+” rating to a “b” rating in a report on Friday, August 23rd. CLSA assumed coverage on James Hardie Industries in a report on Monday, November 4th. They issued an “underperform” rating for the company. ValuEngine raised shares of James Hardie Industries from a “strong sell” rating to a “sell” rating in a research report on Friday, November 1st. UBS Group raised shares of James Hardie Industries from a “neutral” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada assumed coverage on shares of James Hardie Industries in a research report on Thursday, August 29th. They set an “underperform” rating on the stock. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. James Hardie Industries presently has an average rating of “Hold”.

NYSE JHX traded up $0.12 on Thursday, reaching $19.10. The company had a trading volume of 13,328 shares, compared to its average volume of 16,735. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 32.96 and a beta of 0.74. James Hardie Industries has a fifty-two week low of $10.00 and a fifty-two week high of $19.23. The business has a 50 day moving average of $17.10 and a two-hundred day moving average of $14.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.18 and a quick ratio of 0.69.

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

A number of institutional investors and hedge funds have recently modified their holdings of JHX. Renaissance Technologies LLC boosted its position in shares of James Hardie Industries by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 324,727 shares of the construction company’s stock worth $4,290,000 after purchasing an additional 10,400 shares in the last quarter. Northern Trust Corp boosted its position in shares of James Hardie Industries by 2.9% during the 2nd quarter. Northern Trust Corp now owns 435,975 shares of the construction company’s stock worth $5,759,000 after purchasing an additional 12,173 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of James Hardie Industries by 5.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,109,284 shares of the construction company’s stock worth $14,654,000 after purchasing an additional 58,449 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of James Hardie Industries by 15.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 17,407 shares of the construction company’s stock worth $229,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in shares of James Hardie Industries by 10.2% during the 3rd quarter. Wetherby Asset Management Inc. now owns 27,124 shares of the construction company’s stock worth $456,000 after purchasing an additional 2,521 shares in the last quarter. 0.65% of the stock is currently owned by institutional investors and hedge funds.

About James Hardie Industries

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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