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

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 to clients and investors on Thursday, Marketbeat reports.

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Several other brokerages have also issued reports on JHX. ValuEngine upgraded shares of James Hardie Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Royal Bank of Canada began coverage on shares of James Hardie Industries in a research note on Thursday, August 29th. They set an “underperform” rating for the company. UBS Group upgraded shares of James Hardie Industries from a “neutral” rating to a “buy” rating in a research note on Monday, August 12th. TheStreet upgraded shares of James Hardie Industries from a “c+” rating to a “b” rating in a research note on Friday, August 23rd. Finally, CLSA began coverage on shares of James Hardie Industries in a research note on Monday, November 4th. They set an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold”.

Shares of JHX stock traded up $0.12 during trading hours on Thursday, hitting $19.10. 13,328 shares of the company were exchanged, compared to its average volume of 16,735. The firm has a fifty day simple moving average of $17.10 and a 200 day simple moving average of $14.64. The company has a current ratio of 1.18, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38. James Hardie Industries has a 52-week low of $10.00 and a 52-week high of $19.23. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 32.96 and a beta of 0.74.

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

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

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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