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CHICAGO and SAN FRANCISCO - James Hardie Building Products Inc., a subsidiary of James Hardie Industries plc (ASX: JHX; NYSE: JHX), with a market capitalization of $9.36 billion and annual revenue of $3.91 billion, in collaboration with 3D property technology firm Hover, announced the launch of Hardie™ Designer, an innovative AI design tool. According to InvestingPro analysis, the company maintains a strong financial health rating and appears undervalued at current levels. This tool is touted as a first for the siding industry, allowing homeowners to visualize their home’s exterior with Hardie® products using a single photo.
The Hardie™ Designer, powered by Hover’s technology, aims to simplify the home renovation process by providing a real-time, photorealistic design experience. Operating with a healthy gross profit margin of 39.45% and maintaining strong liquidity with a current ratio of 2.18, the company continues to invest in innovative solutions. Homeowners can now visit JamesHardie.com, upload a photo of their home, and instantly see a variety of design styles and Hardie® product options applied to their home’s exterior. This virtual try-on enables users to experiment with different textures and colors, and share their designs with others to facilitate decision-making.
Sean Gadd, President of James Hardie North America, expressed excitement about leading the industry with this innovation, highlighting that the tool empowers homeowners to easily explore design possibilities. A.J. Altman, founder and CEO of Hover, emphasized the importance of visualizing products in real-time and the added value this partnership brings to customers embarking on exterior renovations.
With the Hardie™ Designer tool, James Hardie leverages Hover’s extensive real home property data to provide a seamless and efficient design experience. As the leading producer of high-performance fiber cement building solutions in the United States, James Hardie continues to focus on providing durable, low-maintenance, and noncombustible siding options to the market.
The collaboration between James Hardie and Hover reflects a broader trend of integrating technology into home improvement, aiming to give homeowners confidence in their investment decisions. To try out the Hardie™ Designer tool, individuals can visit the James Hardie website.
This news is based on a press release statement. Despite recent market challenges, with the stock down over 33% in the past six months, InvestingPro analysts maintain a positive outlook on the company’s fundamentals. For deeper insights into James Hardie’s financial health, growth prospects, and detailed analysis, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, James Hardie Industries has announced a definitive agreement to acquire The AZEK Company Inc. for $8.75 billion, including AZEK’s net debt of $386 million. This acquisition is expected to increase James Hardie’s revenue scale to approximately $5.4 billion and enhance its EBITDA margin to 27% on a pro forma basis. Concurrently, Moody’s Ratings has revised James Hardie’s outlook from positive to stable, reflecting the additional leverage from the acquisition and the time needed to reduce its debt levels. Fitch Ratings has placed AZEK on a positive rating watch, anticipating the benefits of the acquisition in terms of scale and product diversification. Additionally, BofA Securities has upgraded James Hardie’s stock to a Buy rating with a price target of AUD43.40, noting the potential for earnings growth post-acquisition. Truist Securities continues to maintain its Buy rating on James Hardie, highlighting the strategic value of its collaboration with AZEK. The acquisition is set to close in the second half of 2025, pending regulatory and shareholder approvals. These developments collectively underscore the strategic expansion and financial adjustments surrounding James Hardie’s acquisition of AZEK.
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