James Hardie Industries plc (NYSE:JHX) Sees Large Drop in Short Interest

James Hardie Industries plc (NYSE:JHX) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 37,300 shares, a decline of 25.1% from the February 13th total of 49,800 shares. Based on an average daily trading volume, of 91,100 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of James Hardie Industries in a research report on Thursday, January 30th. StockNews.com lowered James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Truist Financial initiated coverage on James Hardie Industries in a research note on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.00.

James Hardie Industries Stock Up 1.9 %

Shares of JHX opened at $32.56 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52. James Hardie Industries has a 12 month low of $29.88 and a 12 month high of $43.57. The firm’s 50 day moving average is $32.53 and its 200-day moving average is $34.18. The stock has a market capitalization of $13.99 billion, a PE ratio of 32.23, a P/E/G ratio of 6.16 and a beta of 1.84.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $953.30 million for the quarter, compared to analyst estimates of $967.63 million. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. Equities research analysts forecast that James Hardie Industries will post 1.39 EPS for the current year.

Institutional Investors Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in shares of James Hardie Industries in the 4th quarter valued at approximately $25,000. R Squared Ltd acquired a new position in James Hardie Industries during the fourth quarter valued at approximately $27,000. TD Private Client Wealth LLC lifted its stake in James Hardie Industries by 45.3% during the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock worth $30,000 after purchasing an additional 303 shares during the last quarter. Huntington National Bank acquired a new stake in shares of James Hardie Industries in the 3rd quarter valued at $55,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of James Hardie Industries in the 3rd quarter valued at $64,000. Institutional investors own 7.96% of the company’s stock.

About James Hardie Industries

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.