JPMorgan Chase & Co. Has Lowered Expectations for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $225.00 to $200.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 21.61% from the stock’s current price.

Several other research firms also recently weighed in on EXP. Citigroup decreased their target price on Eagle Materials from $232.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Wells Fargo & Company dropped their price target on Eagle Materials from $196.00 to $188.00 and set an “equal weight” rating for the company in a research report on Monday, October 5th. Stephens increased their price objective on Eagle Materials from $225.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Royal Bank Of Canada reduced their price objective on Eagle Materials from $219.00 to $170.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, DA Davidson decreased their price objective on Eagle Materials from $220.00 to $207.00 and set a “neutral” rating on the stock in a report on Monday, September 14th. Ten equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.56.

Eagle Materials Price Performance

Eagle Materials stock traded up $0.84 during midday trading on Tuesday, reaching $164.46. The company had a trading volume of 176,548 shares, compared to its average volume of 453,899. The company has a market capitalization of $5.04 billion, a P/E ratio of 12.99 and a beta of 1.33. Eagle Materials has a 12-month low of $162.89 and a 12-month high of $245.53. The firm’s fifty day simple moving average is $190.17 and its 200-day simple moving average is $201.75. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%. The firm had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. During the same quarter last year, the firm posted $3.76 earnings per share. Eagle Materials’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Eagle Materials will post 12.66 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Tony Thompson sold 3,074 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the transaction, the senior vice president directly owned 10,142 shares in the company, valued at $2,068,562.32. The trade was a 23.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. boosted its stake in Eagle Materials by 5.0% during the third quarter. Reinhart Partners LLC. now owns 23,750 shares of the construction company’s stock worth $4,062,000 after buying an additional 1,134 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of Eagle Materials in the 3rd quarter worth $395,000. Legacy Wealth Asset Management LLC increased its stake in shares of Eagle Materials by 19.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 2,932 shares of the construction company’s stock worth $501,000 after acquiring an additional 486 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Eagle Materials in the 3rd quarter worth $965,000. Finally, Gradient Investments LLC raised its holdings in shares of Eagle Materials by 29.5% during the 3rd quarter. Gradient Investments LLC now owns 6,321 shares of the construction company’s stock worth $1,081,000 after acquiring an additional 1,439 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE: EXP) is a Dallas-based manufacturer of basic building materials used in residential, commercial and infrastructure construction. Its primary products include Portland cement, ready-mixed concrete, aggregates, gypsum wallboard and gypsum paperboard.

The company operates through businesses focused on cement, concrete and aggregates, and gypsum wallboard and paperboard. Its materials are sold primarily in the United States, with production and distribution operations serving markets across several regions, including the central, southern and southwestern parts of the country.

Eagle Materials traces its origins to the construction-materials operations formerly associated with Centex Corporation and became an independent, publicly traded company in 1994.