Eagle Materials (NYSE:EXP) Sets New 1-Year High – Time to Buy?

Eagle Materials Inc. (NYSE:EXP)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $314.92 and last traded at $311.56, with a volume of 22943 shares. The stock had previously closed at $295.72.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group increased their price target on Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial boosted their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday. Raymond James cut shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Stephens boosted their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Eagle Materials has a consensus rating of “Moderate Buy” and a consensus price target of $303.78.

Eagle Materials Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The stock’s 50-day moving average is $279.14 and its two-hundred day moving average is $254.07. The stock has a market cap of $10.49 billion, a PE ratio of 20.89 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The firm had revenue of $623.62 million during the quarter, compared to analyst estimates of $651.46 million. During the same period in the previous year, the firm posted $4.28 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Eagle Materials Inc. will post 15.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the transaction, the director now owns 7,943 shares in the company, valued at approximately $2,205,135.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

A number of large investors have recently modified their holdings of the company. Eagle Bay Advisors LLC increased its holdings in shares of Eagle Materials by 79.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock valued at $26,000 after acquiring an additional 42 shares during the period. Bessemer Group Inc. raised its holdings in shares of Eagle Materials by 132.7% in the first quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock valued at $31,000 after buying an additional 65 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Eagle Materials during the first quarter worth about $42,000. McClarren Financial Advisors Inc. boosted its stake in shares of Eagle Materials by 10,750.0% during the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock worth $47,000 after buying an additional 215 shares during the period. Finally, EntryPoint Capital LLC increased its position in Eagle Materials by 1,760.0% in the 1st quarter. EntryPoint Capital LLC now owns 186 shares of the construction company’s stock valued at $51,000 after acquiring an additional 176 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.