Eagle Materials Inc (NYSE:EXP) Receives $226.00 Average Target Price from Analysts

Eagle Materials Inc (NYSE:EXP) has been assigned an average rating of “Hold” from the eleven research firms that are covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $226.00.

A number of research analysts recently commented on the stock. Royal Bank Of Canada upped 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. Stephens cut their price objective on shares of Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. Zacks Research upgraded Eagle Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Wells Fargo & Company decreased their target price on Eagle Materials from $246.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upgraded Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Tuesday, June 2nd.

Eagle Materials Stock Up 3.0%

Eagle Materials stock opened at $213.34 on Wednesday. The company has a market cap of $6.59 billion, a P/E ratio of 16.26 and a beta of 1.37. Eagle Materials has a 1-year low of $171.99 and a 1-year high of $245.53. The company has a fifty day simple moving average of $213.86 and a 200 day simple moving average of $211.04. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.59 by $0.32. Eagle Materials had a return on equity of 28.27% and a net margin of 18.36%.The firm had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. During the same period in the prior year, the firm posted $2.00 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts anticipate that Eagle Materials will post 12.9 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, June 15th were paid a $0.25 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 0.5%. Eagle Materials’s payout ratio is 7.62%.

Institutional Trading of Eagle Materials

A number of institutional investors have recently modified their holdings of EXP. Black Creek Investment Management Inc. bought a new position in shares of Eagle Materials in the fourth quarter worth about $103,778,000. Norges Bank bought a new stake in shares of Eagle Materials during the 4th quarter valued at approximately $90,147,000. Baupost Group LLC MA grew its holdings in shares of Eagle Materials by 39.0% during the 3rd quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock valued at $218,978,000 after purchasing an additional 263,403 shares during the last quarter. Earnest Partners LLC acquired a new position in Eagle Materials during the 4th quarter worth approximately $52,674,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Eagle Materials during the 3rd quarter worth approximately $51,812,000. 96.07% of the stock is currently owned by institutional investors.

About Eagle Materials

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.