Shares of Eagle Materials, Inc. (NYSE:EXP) have earned an average rating of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $84.20.
EXP has been the topic of a number of research reports. DA Davidson raised their target price on shares of Eagle Materials from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Zacks Investment Research upgraded shares of Eagle Materials from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a research note on Wednesday, August 5th. Goldman Sachs Group started coverage on shares of Eagle Materials in a research note on Wednesday, June 3rd. They set a “neutral” rating on the stock. Cfra dropped their price objective on shares of Eagle Materials from $102.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, Raymond James reiterated a “buy” rating and set a $95.00 price objective on shares of Eagle Materials in a research note on Friday, July 31st.
Shares of NYSE:EXP traded down $0.43 during trading on Tuesday, reaching $81.99. 264,742 shares of the company were exchanged, compared to its average volume of 242,305. The firm has a market capitalization of $3.42 billion, a PE ratio of 13.38 and a beta of 1.38. The business’s fifty day simple moving average is $81.74 and its 200-day simple moving average is $69.83. Eagle Materials has a 12-month low of $41.83 and a 12-month high of $97.10. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.86 and a quick ratio of 2.64.
Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, July 30th. The construction company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.47. The business had revenue of $428.02 million for the quarter, compared to analyst estimates of $398.01 million. Eagle Materials had a net margin of 8.34% and a return on equity of 25.94%. On average, sell-side analysts anticipate that Eagle Materials will post 6 EPS for the current fiscal year.
In other Eagle Materials news, Director David B. Powers sold 1,519 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $82.52, for a total value of $125,347.88. Following the completion of the sale, the director now directly owns 48,335 shares in the company, valued at $3,988,604.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James H. Graass sold 12,184 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $82.00, for a total transaction of $999,088.00. Following the completion of the sale, the executive vice president now owns 68,636 shares of the company’s stock, valued at $5,628,152. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB purchased a new position in shares of Eagle Materials in the second quarter worth $529,000. Jane Street Group LLC purchased a new position in shares of Eagle Materials in the second quarter worth $1,580,000. Sei Investments Co. raised its holdings in shares of Eagle Materials by 6.1% in the second quarter. Sei Investments Co. now owns 60,098 shares of the construction company’s stock worth $4,220,000 after buying an additional 3,450 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Eagle Materials by 6.7% in the second quarter. Captrust Financial Advisors now owns 3,200 shares of the construction company’s stock worth $218,000 after buying an additional 200 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Eagle Materials by 203.0% in the second quarter. Cubist Systematic Strategies LLC now owns 72,818 shares of the construction company’s stock worth $5,113,000 after buying an additional 48,787 shares during the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.
Eagle Materials Company Profile
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
Further Reading: Are sell-side analysts objective?
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