Eagle Materials (NYSE:EXP) Given New $297.00 Price Target at Citigroup

Eagle Materials (NYSE:EXP) had its price objective cut by Citigroup from $311.00 to $297.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price target would suggest a potential upside of 25.80% from the stock’s previous close.

Several other research analysts have also issued reports on EXP. The Goldman Sachs Group raised their price target on shares of Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Truist Financial raised their price target on shares of Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Loop Capital lowered their price target on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $279.67.

Eagle Materials Trading Down 1.1 %

NYSE:EXP traded down $2.71 during mid-day trading on Thursday, hitting $236.09. 133,975 shares of the company’s stock were exchanged, compared to its average volume of 294,508. The company has a 50 day simple moving average of $258.66 and a 200-day simple moving average of $227.62. The company has a current ratio of 2.62, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. Eagle Materials has a fifty-two week low of $145.03 and a fifty-two week high of $276.61. The firm has a market capitalization of $8.13 billion, a P/E ratio of 17.31 and a beta of 1.35.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, May 21st. The construction company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.48). Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The business had revenue of $476.70 million for the quarter, compared to analyst estimates of $480.20 million. During the same quarter in the prior year, the business earned $2.79 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts expect that Eagle Materials will post 16.17 earnings per share for the current year.

Insider Buying and Selling at Eagle Materials

In other Eagle Materials news, EVP Matt Newby sold 2,940 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the sale, the executive vice president now owns 21,819 shares in the company, valued at approximately $5,479,841.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eagle Materials

Hedge funds have recently bought and sold shares of the company. Asset Management One Co. Ltd. purchased a new position in shares of Eagle Materials in the 4th quarter worth about $1,085,000. NewEdge Wealth LLC increased its position in shares of Eagle Materials by 13.4% during the fourth quarter. NewEdge Wealth LLC now owns 89,090 shares of the construction company’s stock valued at $18,071,000 after buying an additional 10,514 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Eagle Materials during the fourth quarter valued at about $1,988,000. Van ECK Associates Corp increased its position in shares of Eagle Materials by 39.7% during the fourth quarter. Van ECK Associates Corp now owns 10,537 shares of the construction company’s stock valued at $2,137,000 after buying an additional 2,993 shares during the period. Finally, Mariner LLC increased its position in shares of Eagle Materials by 4.1% in the third quarter. Mariner LLC now owns 9,081 shares of the construction company’s stock worth $1,512,000 after purchasing an additional 357 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

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, including Portland limestone 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, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.