James Hardie Industries PLC (JHX) Rating Increased to Buy at Zacks Investment Research
James Hardie Industries PLC (NYSE:JHX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $19.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 21.17% from the company’s current price.
According to Zacks, “JAMES HARDI-ADR pioneered the development of fibre cement technology in the 1980’s. They have many product applications including: External siding, trim and fascia, ceiling lining and flooring, partitioning, decorative columns, fencing and drainage pipes. “
Separately, Citigroup Inc. downgraded James Hardie Industries PLC from a “neutral” rating to a “sell” rating in a report on Thursday, May 19th.
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Shares of James Hardie Industries PLC (NYSE:JHX) traded down 2.24% on Tuesday, hitting $15.68. 7,977 shares of the stock traded hands. James Hardie Industries PLC has a 1-year low of $10.19 and a 1-year high of $17.30. The stock has a market cap of $6.99 billion, a PE ratio of 25.70 and a beta of 1.38. The stock has a 50 day moving average of $16.60 and a 200-day moving average of $15.01.
Several large investors have recently bought and sold shares of JHX. Bank of Montreal Can bought a new position in James Hardie Industries PLC during the second quarter worth approximately $105,000. Checchi Capital Advisers LLC increased its position in James Hardie Industries PLC by 1.3% in the second quarter. Checchi Capital Advisers LLC now owns 8,028 shares of the company’s stock worth $123,000 after buying an additional 106 shares during the period. OLD Mission Capital LLC bought a new position in James Hardie Industries PLC during the first quarter worth approximately $180,000. Boys Arnold & Co. Inc. bought a new position in James Hardie Industries PLC during the second quarter worth approximately $230,000. Finally, Goldman Sachs Group Inc. increased its position in James Hardie Industries PLC by 3.1% in the first quarter. Goldman Sachs Group Inc. now owns 29,768 shares of the company’s stock worth $406,000 after buying an additional 893 shares during the period. 0.92% of the stock is owned by institutional investors.
James Hardie Industries PLC Company Profile
James Hardie Industries Plc is a manufacturer of fiber cement products and systems for internal and external building construction applications. The Company’s brand names include HardieBacker, Artisan Lap, Artisan Accent Trim, Cemplank, Prevail and Scyon. Its products include external siding, internal walls, floors, ceilings, soffits, roofing, lattice, decorative columns, fencing and facades.
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