Eagle Materials (NYSE:EXP) Price Target Lowered to $240.00 at Wells Fargo & Company

Eagle Materials (NYSE:EXP) had its price objective dropped by investment analysts at Wells Fargo & Company from $246.00 to $240.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.58% from the company’s previous close.

Several other research firms also recently commented on EXP. Royal Bank Of Canada raised their price target on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. raised shares of Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price objective on the stock in a report on Tuesday, June 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Eagle Materials in a report on Tuesday, June 16th. Zacks Research raised Eagle Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $223.70.

Eagle Materials Trading Down 3.4%

EXP opened at $205.87 on Wednesday. The stock has a 50-day moving average of $213.86 and a 200 day moving average of $211.64. 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 has a 12 month low of $171.99 and a 12 month high of $245.53. The firm has a market cap of $6.36 billion, a P/E ratio of 15.73 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.32. The firm had revenue of $479.11 million during the quarter, compared to analyst estimates of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $2.00 EPS. As a group, research analysts forecast that Eagle Materials will post 13.02 EPS for the current year.

Institutional Investors Weigh In On Eagle Materials

Several institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC grew its holdings in shares of Eagle Materials by 266.7% during the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock valued at $27,000 after buying an additional 96 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Eagle Materials in the fourth quarter worth about $29,000. IFP Advisors Inc raised its position in Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Eagle Materials in the 3rd quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC increased its stake 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 worth $35,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Eagle Materials Company Profile

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.