Eagle Materials (NYSE:EXP) Stock Gets Price Target Boost from Citigroup

Eagle Materials (NYSE:EXP) had its target price boosted by analysts at Citigroup from $190.00 to $214.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Citigroup‘s price target suggests a potential upside of 14.89% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Stifel Nicolaus lowered their price target on Eagle Materials from $232.00 to $207.00 and set a “hold” rating for the company in a research report on Wednesday, October 28th. JPMorgan Chase & Co. decreased their target price on Eagle Materials from $225.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Truist Financial dropped their price objective on shares of Eagle Materials from $210.00 to $165.00 and set a “hold” rating on the stock in a research note on Thursday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a research note on Friday, September 11th. Finally, Zacks Research lowered shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Eagle Materials presently has a consensus rating of “Reduce” and an average price target of $193.33.

Eagle Materials Price Performance

Shares of EXP traded down $2.97 during midday trading on Friday, hitting $186.27. 379,014 shares of the company traded hands, compared to its average volume of 456,159. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 15.46 and a beta of 1.29. The firm has a 50 day moving average of $179.52 and a 200-day moving average of $201.99. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.91 and a current ratio of 3.29. Eagle Materials has a 52 week low of $160.02 and a 52 week high of $245.53.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Wednesday, November 4th. The construction company reported $3.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.19). Eagle Materials had a return on equity of 25.16% and a net margin of 16.11%. The firm had revenue of $652.75 million during the quarter, compared to the consensus estimate of $633.08 million. During the same period in the previous year, the firm earned $4.23 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that Eagle Materials will post 12.02 EPS for the current fiscal year.

Insider Transactions at Eagle Materials

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $203.96, for a total value of $626,973.04. Following the sale, the senior vice president directly owned 10,142 shares of the company’s stock, valued at approximately $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Eagle Materials in the 2nd quarter worth approximately $688,486,000. W1M Asset Management Ltd purchased a new position in shares of Eagle Materials during the 2nd quarter valued at approximately $155,199,000. William Blair Investment Management LLC purchased a new position in shares of Eagle Materials during the 2nd quarter valued at approximately $129,760,000. Bank of America Corp DE acquired a new position in shares of Eagle Materials in the 2nd quarter valued at $66,255,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Eagle Materials in the 2nd quarter valued at $51,858,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

About Eagle Materials

Eagle Materials Inc (NYSE: EXP) is a U.S.-based manufacturer of building materials used in residential, commercial, infrastructure and industrial construction. The company’s principal products include cement, gypsum wallboard, concrete and aggregates.

Its cement business produces and distributes Portland cement and related cement products, while its gypsum wallboard business supplies panels used in interior construction. Eagle Materials also provides ready-mixed concrete and construction aggregates, including crushed stone, sand and gravel, for building and infrastructure projects.

The company traces its history to Centex Construction Products, which was spun off from Centex Corporation in 1994 and later adopted the Eagle Materials name.