Eagle Materials (NYSE:EXP) Price Target Cut to $297.00 by Analysts at Citigroup

Eagle Materials (NYSE:EXP) had its price target cut by Citigroup from $311.00 to $297.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial upped their price target on shares of Eagle Materials from $290.00 to $320.00 and gave the stock a buy rating in a research 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 research report on Wednesday. Stephens upped their price target on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. Raymond James upped their price target on shares of Eagle Materials from $230.00 to $250.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Stifel Nicolaus lowered their price target on shares of Eagle Materials from $300.00 to $286.00 and set a buy rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Eagle Materials has an average rating of Moderate Buy and an average price target of $279.67.

Eagle Materials Price Performance

Eagle Materials stock opened at $235.59 on Thursday. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 17.30 and a beta of 1.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.62 and a quick ratio of 1.13. Eagle Materials has a 1 year low of $145.03 and a 1 year high of $276.61. The firm has a 50-day moving average of $258.36 and a two-hundred day moving average of $227.67.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Tuesday, May 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.48). Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The company had revenue of $476.70 million during the quarter, compared to analysts’ expectations of $480.20 million. During the same period last year, the firm earned $2.79 earnings per share. Eagle Materials’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts forecast 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 company’s stock in a transaction that occurred 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 transaction, 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 available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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