James Hardie Industries plc (NYSE:JHX) Short Interest Down 94.2% in December

James Hardie Industries plc (NYSE:JHXGet Free Report) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 9,800 shares, a decline of 94.2% from the December 15th total of 170,100 shares. Based on an average daily volume of 90,600 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

JHX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded James Hardie Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 25th. Finally, Truist Financial started coverage on James Hardie Industries in a research report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.25.

View Our Latest Research Report on James Hardie Industries

James Hardie Industries Stock Performance

JHX traded up $0.59 during midday trading on Tuesday, hitting $31.72. 144,883 shares of the company were exchanged, compared to its average volume of 106,910. The company’s 50 day simple moving average is $33.53 and its 200 day simple moving average is $34.56. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 4.27 and a beta of 1.80. James Hardie Industries has a 1-year low of $29.88 and a 1-year high of $43.57. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57.

James Hardie Industries (NYSE:JHXGet Free Report) last posted its earnings results on Tuesday, November 12th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. The firm had revenue of $960.80 million for the quarter, compared to analyst estimates of $973.49 million. During the same period last year, the company earned $0.41 earnings per share. James Hardie Industries’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that James Hardie Industries will post 1.47 earnings per share for the current year.

Hedge Funds Weigh In On James Hardie Industries

Institutional investors have recently made changes to their positions in the company. M&T Bank Corp acquired a new stake in James Hardie Industries in the third quarter valued at approximately $293,000. Cerity Partners LLC increased its holdings in James Hardie Industries by 58.8% in the 3rd quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock worth $1,517,000 after acquiring an additional 13,981 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in James Hardie Industries during the third quarter worth $2,369,000. FMR LLC lifted its holdings in James Hardie Industries by 22.5% during the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock valued at $6,435,000 after purchasing an additional 29,401 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of James Hardie Industries by 317.2% during the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock worth $6,924,000 after purchasing an additional 131,120 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

About James Hardie Industries

(Get Free Report)

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.

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