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

Eagle Materials (NYSE:EXP) had its target price lowered by equities research analysts at DA Davidson from $220.00 to $207.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. DA Davidson’s price target suggests a potential upside of 12.68% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Royal Bank Of Canada raised their price objective on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Jefferies Financial Group reiterated a “hold” rating and set a $200.00 price target on shares of Eagle Materials in a research report on Wednesday, May 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $196.00 price target (down from $231.00) on shares of Eagle Materials in a research note on Wednesday, September 9th. Finally, Zacks Research lowered shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Eagle Materials presently has an average rating of “Reduce” and a consensus price target of $218.33.

Eagle Materials Price Performance

EXP traded down $1.42 during trading on Monday, reaching $183.70. The stock had a trading volume of 108,163 shares, compared to its average volume of 451,540. The business has a 50-day moving average of $204.69 and a 200-day moving average of $205.39. Eagle Materials has a one year low of $171.99 and a one year high of $245.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. The stock has a market cap of $5.63 billion, a PE ratio of 14.54 and a beta of 1.36.

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

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the sale, the senior vice president owned 10,142 shares in the company, valued at approximately $2,068,562.32. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Wealth boosted its position in Eagle Materials by 21.5% during the 1st quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock valued at $448,000 after buying an additional 357 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after acquiring an additional 87 shares during the period. First Trust Advisors LP raised its stake in shares of Eagle Materials by 5.8% during the second quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock valued at $20,609,000 after acquiring an additional 5,612 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Eagle Materials by 8.0% during the second quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock valued at $276,000 after acquiring an additional 101 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Eagle Materials by 359.9% during the second quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock worth $2,528,000 after purchasing an additional 9,790 shares during the period. Institutional investors own 96.07% of the company’s stock.

About Eagle Materials

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.