The Goldman Sachs Group Raises Eagle Materials (NYSE:EXP) Price Target to $273.00

Eagle Materials (NYSE:EXP) had its target price upped by The Goldman Sachs Group from $238.00 to $273.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

EXP has been the topic of several other research reports. Truist Financial upped their price objective on shares of Eagle Materials from $290.00 to $320.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. raised their price objective on Eagle Materials from $200.00 to $265.00 and gave the stock a neutral rating in a report on Friday, March 22nd. Stifel Nicolaus upped their target price on Eagle Materials from $250.00 to $300.00 and gave the company a buy rating in a research note on Monday. Citigroup raised their price target on Eagle Materials from $244.00 to $311.00 and gave the stock a buy rating in a research note on Friday, April 5th. Finally, Raymond James upped their price objective on shares of Eagle Materials from $170.00 to $230.00 and gave the company an outperform rating in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Eagle Materials has an average rating of Moderate Buy and an average target price of $257.00.

Eagle Materials Stock Performance

NYSE EXP opened at $242.20 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77. Eagle Materials has a fifty-two week low of $143.39 and a fifty-two week high of $272.72. The business has a fifty day moving average of $255.14 and a 200-day moving average of $211.08. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 17.09 and a beta of 1.34.

Eagle Materials (NYSE:EXP) last announced its earnings results on Thursday, January 25th. The construction company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.16. Eagle Materials had a net margin of 22.24% and a return on equity of 40.05%. The firm had revenue of $558.83 million during the quarter, compared to the consensus estimate of $537.23 million. As a group, analysts predict that Eagle Materials will post 14.23 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 0.41%. Eagle Materials’s payout ratio is 7.06%.

Insiders Place Their Bets

In other news, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $215.60, for a total value of $1,078,000.00. Following the transaction, the chief financial officer now owns 62,610 shares of the company’s stock, valued at approximately $13,498,716. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Eric Cribbs sold 2,000 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $214.66, for a total value of $429,320.00. Following the completion of the sale, the insider now owns 15,654 shares in the company, valued at $3,360,287.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $215.60, for a total value of $1,078,000.00. Following the sale, the chief financial officer now owns 62,610 shares in the company, valued at $13,498,716. The disclosure for this sale can be found here. Insiders sold a total of 19,444 shares of company stock worth $4,414,889 over the last ninety days. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eagle Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new position in shares of Eagle Materials in the third quarter valued at $25,000. Dark Forest Capital Management LP acquired a new position in Eagle Materials in the 1st quarter worth $26,000. Tompkins Financial Corp acquired a new stake in shares of Eagle Materials during the first quarter valued at about $27,000. Rise Advisors LLC purchased a new stake in shares of Eagle Materials during the first quarter worth about $27,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Eagle Materials in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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; 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.