Eagle Materials (NYSE:EXP) Stock Rating Lowered by Citigroup

Eagle Materials (NYSE:EXP) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, MarketBeat reports. They currently have a $280.00 price target on the construction company’s stock, down from their previous price target of $334.00. Citigroup’s price objective suggests a potential upside of 17.04% from the stock’s current price.

EXP has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and dropped their price target for the company from $330.00 to $310.00 in a research report on Monday, December 16th. Truist Financial increased their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $301.44.

Eagle Materials Trading Down 2.0 %

Shares of Eagle Materials stock opened at $239.23 on Monday. Eagle Materials has a 12-month low of $197.58 and a 12-month high of $321.93. The firm’s 50 day simple moving average is $282.89 and its two-hundred day simple moving average is $266.24. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 16.89 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). The business had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.28 earnings per share. Analysts predict that Eagle Materials will post 15.24 EPS for the current year.

Insider Activity at Eagle Materials

In other news, SVP Tony Thompson sold 1,401 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the transaction, the senior vice president now directly owns 13,212 shares in the company, valued at $4,148,568. The trade was a 9.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Ross Stewart sold 3,577 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total value of $1,074,173.10. Following the completion of the sale, the director now directly owns 1,100 shares of the company’s stock, valued at $330,330. This trade represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of Eagle Materials during the 3rd quarter worth $64,000. Quent Capital LLC increased its position in shares of Eagle Materials by 155.3% during the third quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock valued at $125,000 after acquiring an additional 264 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Eagle Materials by 29.7% in the 3rd quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock worth $176,000 after acquiring an additional 140 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Eagle Materials by 23.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock worth $181,000 after purchasing an additional 120 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its holdings in Eagle Materials by 789.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock valued at $202,000 after purchasing an additional 624 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Company Profile

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.