DA Davidson Cuts Eagle Materials (NYSE:EXP) Price Target to $207.00

Eagle Materials (NYSE:EXP) had its target price trimmed by DA Davidson from $220.00 to $207.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

EXP has been the topic of a number of other research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $196.00 target price (down from $231.00) on shares of Eagle Materials in a research report on Wednesday, September 9th. Stephens lifted their price target on shares of Eagle Materials from $225.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Royal Bank Of Canada boosted their price target on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. Jefferies Financial Group restated a “hold” rating and issued a $200.00 price objective on shares of Eagle Materials in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. upgraded Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price for the company in a report on Tuesday, June 2nd. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $218.33.

Eagle Materials Price Performance

EXP stock opened at $179.23 on Monday. The business has a fifty day moving average of $202.88 and a two-hundred day moving average of $204.43. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 14.17 and a beta of 1.36. Eagle Materials has a 52-week low of $171.99 and a 52-week high of $245.53.

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

Eagle Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Monday, September 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 14th. Eagle Materials’s dividend payout ratio (DPR) is 7.91%.

Insiders Place Their Bets

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 completion of the transaction, the senior vice president owned 10,142 shares in the company, valued at $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Eagle Materials

A number of large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in Eagle Materials by 4.8% during the second quarter. Sequoia Financial Advisors LLC now owns 1,782 shares of the construction company’s stock worth $401,000 after buying an additional 82 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Eagle Materials in the 2nd quarter valued at $515,000. Integrated Wealth Concepts LLC increased its holdings in shares of Eagle Materials by 59.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,873 shares of the construction company’s stock valued at $422,000 after acquiring an additional 702 shares during the period. NewEdge Advisors LLC raised its position in Eagle Materials by 30.4% in the 2nd quarter. NewEdge Advisors LLC now owns 4,961 shares of the construction company’s stock valued at $1,116,000 after purchasing an additional 1,157 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Eagle Materials by 131.0% in the 2nd quarter. IFP Advisors Inc now owns 432 shares of the construction company’s stock valued at $97,000 after purchasing an additional 245 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE: EXP) is a U.S.-based manufacturer of essential building materials used in residential, commercial and infrastructure construction. The company produces and distributes cement, ready-mix concrete, crushed stone and sand, as well as gypsum wallboard.

Its cement business supplies materials for concrete production and construction projects, while its concrete and aggregates operations provide ready-mix concrete and construction aggregates. Through its American Gypsum operations, Eagle Materials manufactures gypsum wallboard used in interior walls and ceilings.

Headquartered in Dallas, Texas, Eagle Materials serves regional construction markets primarily across the United States, with operations concentrated in states including Texas, Colorado, Nevada and Oklahoma.