James Hardie Industries (NYSE:JHX) Downgraded by StockNews.com

StockNews.com cut shares of James Hardie Industries (NYSE:JHX) from a strong-buy rating to a buy rating in a report released on Tuesday.

A number of other equities analysts also recently issued reports on the company. Bank of America downgraded James Hardie Industries from a neutral rating to an underperform rating and set a $35.50 price objective for the company. in a report on Tuesday, January 23rd. Macquarie upgraded James Hardie Industries from a neutral rating to an outperform rating in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded James Hardie Industries from an overweight rating to a neutral rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $35.50.

James Hardie Industries Price Performance

JHX opened at $31.28 on Tuesday. The stock has a fifty day simple moving average of $37.02 and a two-hundred day simple moving average of $36.37. The company has a current ratio of 1.79, a quick ratio of 1.46 and a debt-to-equity ratio of 0.60. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 1.76 and a beta of 1.72. James Hardie Industries has a 12-month low of $24.18 and a 12-month high of $41.98.

Hedge Funds Weigh In On James Hardie Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in shares of James Hardie Industries by 1.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,002,215 shares of the construction company’s stock valued at $38,756,000 after acquiring an additional 11,235 shares in the last quarter. Jennison Associates LLC increased its holdings in James Hardie Industries by 186.0% in the 1st quarter. Jennison Associates LLC now owns 335,239 shares of the construction company’s stock worth $13,564,000 after buying an additional 218,033 shares in the last quarter. Acadian Asset Management LLC increased its holdings in James Hardie Industries by 39.7% in the 1st quarter. Acadian Asset Management LLC now owns 313,931 shares of the construction company’s stock worth $12,697,000 after buying an additional 89,165 shares in the last quarter. FMR LLC increased its holdings in James Hardie Industries by 3.4% in the 3rd quarter. FMR LLC now owns 119,208 shares of the construction company’s stock worth $3,128,000 after buying an additional 3,934 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in James Hardie Industries by 111.1% in the 4th quarter. New York State Common Retirement Fund now owns 63,558 shares of the construction company’s stock worth $2,458,000 after buying an additional 33,457 shares in the last quarter. 7.96% of the stock is currently owned by 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.