Short Interest in James Hardie Industries plc (NYSE:JHX) Rises By 19,173.5%

James Hardie Industries plc (NYSE:JHX) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 9,020,000 shares, a growth of 19,173.5% from the March 15th total of 46,800 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 7.5 days. Approximately 2.1% of the company’s stock are sold short.

James Hardie Industries Stock Performance

Shares of NYSE JHX traded down $0.37 during midday trading on Monday, hitting $22.18. 1,001,391 shares of the company’s stock traded hands, compared to its average volume of 1,240,605. The firm has a fifty day moving average of $28.81 and a 200 day moving average of $32.29. James Hardie Industries has a 1 year low of $19.72 and a 1 year high of $43.57. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.18. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 6.16 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $953.30 million for the quarter, compared to the consensus estimate of $967.63 million. James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. On average, analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on JHX shares. Morgan Stanley upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 24th. StockNews.com raised James Hardie Industries from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Jefferies Financial Group reiterated a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Macquarie cut James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday, March 24th. Finally, Raymond James set a $55.00 price objective on James Hardie Industries in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.45.

Hedge Funds Weigh In On James Hardie Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc bought a new position in shares of James Hardie Industries in the fourth quarter worth approximately $25,000. R Squared Ltd bought a new position in James Hardie Industries in the 4th quarter worth $27,000. TD Private Client Wealth LLC raised its holdings 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 valued at $30,000 after acquiring an additional 303 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in James Hardie Industries during the third quarter valued at about $71,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of James Hardie Industries in the fourth quarter valued at about $55,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

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.