Stephens Lowers Eagle Materials (NYSE:EXP) Price Target to $310.00

Eagle Materials (NYSE:EXP) had its price target reduced by investment analysts at Stephens from $325.00 to $310.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Stephens’ target price suggests a potential upside of 18.65% from the stock’s previous close.

A number of other brokerages also recently commented on EXP. Citigroup downgraded Eagle Materials from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Loop Capital lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday, November 25th. Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group boosted their price objective on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Eagle Materials has a consensus rating of “Hold” and a consensus price target of $300.89.

Eagle Materials Trading Up 1.4 %

Eagle Materials stock opened at $261.27 on Wednesday. Eagle Materials has a 1 year low of $204.27 and a 1 year high of $321.93. The firm’s 50-day moving average is $270.29 and its 200-day moving average is $268.33. 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 company has a market cap of $8.76 billion, a P/E ratio of 18.45 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). The business had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $4.28 EPS. On average, equities analysts expect that Eagle Materials will post 15.11 earnings per share for the current year.

Insider Buying and Selling at Eagle Materials

In related news, CEO Michael Haack sold 11,888 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the sale, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the transaction, the senior vice president now directly owns 13,212 shares in the company, valued at $4,148,568. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

Hedge funds have recently modified their holdings of the stock. Hamilton Point Investment Advisors LLC purchased a new position in Eagle Materials in the 4th quarter worth about $4,449,000. R Squared Ltd acquired a new stake in Eagle Materials during the 4th quarter worth about $81,000. Perigon Wealth Management LLC grew its stake in Eagle Materials by 1.6% during the 4th quarter. Perigon Wealth Management LLC now owns 5,567 shares of the construction company’s stock valued at $1,416,000 after acquiring an additional 87 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Eagle Materials by 14.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 866 shares of the construction company’s stock valued at $214,000 after purchasing an additional 111 shares in the last quarter. Finally, Mariner Investment Group LLC grew its holdings in shares of Eagle Materials by 950.0% during the 4th quarter. Mariner Investment Group LLC now owns 10,500 shares of the construction company’s stock valued at $2,591,000 after acquiring an additional 9,500 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Company Profile

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.