Stephens Issues Pessimistic Forecast for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its target price reduced by equities researchers at Stephens from $275.00 to $255.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Stephens’ price objective would suggest a potential upside of 18.67% from the company’s previous close.

Several other research analysts have also weighed in on EXP. Stifel Nicolaus dropped their price target on Eagle Materials from $242.00 to $241.00 and set a “hold” rating on the stock in a research report on Wednesday. Truist Financial cut their target price on shares of Eagle Materials from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. DA Davidson reduced their price objective on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Loop Capital dropped their target price on Eagle Materials from $245.00 to $237.00 and set a “hold” rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $268.00.

Eagle Materials Price Performance

NYSE EXP opened at $214.89 on Thursday. The firm has a market capitalization of $7.15 billion, a PE ratio of 15.35 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01. Eagle Materials has a 12 month low of $201.61 and a 12 month high of $321.93. The company’s 50 day simple moving average is $223.79 and its 200 day simple moving average is $248.51.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. The firm had revenue of $470.18 million during the quarter, compared to analysts’ expectations of $483.14 million. During the same quarter last year, the company posted $2.24 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that Eagle Materials will post 14.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Eagle Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of EXP. Focus Partners Wealth grew its holdings in shares of Eagle Materials by 21.5% during the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock worth $448,000 after purchasing an additional 357 shares during the last quarter. United Services Automobile Association acquired a new stake in Eagle Materials in the first quarter worth about $481,000. Arete Wealth Advisors LLC bought a new stake in shares of Eagle Materials during the 1st quarter valued at $492,000. First Dallas Securities Inc. lifted its stake in shares of Eagle Materials by 1.7% in the 1st quarter. First Dallas Securities Inc. now owns 15,451 shares of the construction company’s stock valued at $3,429,000 after purchasing an additional 251 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of Eagle Materials by 36.1% during the first quarter. Ashton Thomas Private Wealth LLC now owns 2,852 shares of the construction company’s stock worth $634,000 after purchasing an additional 756 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

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.