Eagle Materials (NYSE:EXP) Price Target Cut to $217.00 by Analysts at Citigroup

Eagle Materials (NYSE:EXP) had its price objective reduced by Citigroup from $224.00 to $217.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Citigroup’s price objective points to a potential upside of 8.48% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stephens reduced their target price on Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday. Zacks Research raised shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. DA Davidson dropped their target price on Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. Jefferies Financial Group reiterated a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research note on Wednesday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $215.00 price objective (down from $230.00) on shares of Eagle Materials in a report on Monday, February 16th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Eagle Materials has a consensus rating of “Hold” and a consensus target price of $223.30.

Eagle Materials Stock Performance

EXP stock traded down $0.22 during midday trading on Thursday, reaching $200.04. 205,207 shares of the company’s stock traded hands, compared to its average volume of 462,044. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.68 and a current ratio of 3.66. Eagle Materials has a 52 week low of $171.99 and a 52 week high of $243.64. The firm has a market capitalization of $6.29 billion, a PE ratio of 15.25 and a beta of 1.38. The company has a 50-day moving average price of $196.05 and a two-hundred day moving average price of $210.66.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The firm had revenue of $479.11 million for the quarter, compared to analysts’ expectations of $451.99 million. During the same quarter in the previous year, the company earned $2.00 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Eagle Materials will post 12.5 EPS for the current year.

Institutional Trading of Eagle Materials

Hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new position in Eagle Materials in the third quarter worth about $30,000. Clearstead Advisors LLC lifted its stake in shares of Eagle Materials by 266.7% in the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock worth $27,000 after acquiring an additional 96 shares during the period. Los Angeles Capital Management LLC bought a new stake in Eagle Materials during the fourth quarter worth approximately $29,000. IFP Advisors Inc boosted its stake in Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Eagle Materials during the 3rd quarter valued at $34,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.