Eagle Materials (NYSE:EXP) Price Target Raised to $250.00 at Raymond James

Eagle Materials (NYSE:EXP) had its price target raised by analysts at Raymond James from $230.00 to $250.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Raymond James’ target price indicates a potential upside of 6.13% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Citigroup boosted their price target on Eagle Materials from $244.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. StockNews.com raised Eagle Materials from a “hold” rating to a “buy” rating in a report on Tuesday. Stephens increased their price objective on shares of Eagle Materials from $250.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Stifel Nicolaus reduced their price target on shares of Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.22.

Eagle Materials Stock Performance

NYSE:EXP traded down $3.23 during mid-day trading on Thursday, reaching $235.57. The stock had a trading volume of 33,301 shares, compared to its average volume of 293,471. Eagle Materials has a twelve month low of $145.03 and a twelve month high of $276.61. The business has a 50 day simple moving average of $258.66 and a 200 day simple moving average of $227.62. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 17.33 and a beta of 1.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 2.62.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, May 21st. The construction company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.48). The business had revenue of $476.70 million during the quarter, compared to analyst estimates of $480.20 million. Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 earnings per share. On average, analysts expect that Eagle Materials will post 16.17 earnings per share for the current fiscal year.

Insider Transactions at Eagle Materials

In related news, EVP Matt Newby sold 2,940 shares of Eagle Materials stock in a transaction on Monday, February 26th. The shares were sold at an average price of $251.15, for a total transaction of $738,381.00. Following the transaction, the executive vice president now owns 21,819 shares in the company, valued at approximately $5,479,841.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Eagle Materials

Hedge funds have recently made changes to their positions in the company. Comerica Bank boosted its stake in shares of Eagle Materials by 94.8% in the first quarter. Comerica Bank now owns 32,772 shares of the construction company’s stock valued at $8,906,000 after purchasing an additional 15,949 shares during the period. Hancock Whitney Corp purchased a new position in Eagle Materials in the 1st quarter valued at about $586,000. Castleark Management LLC grew its stake in shares of Eagle Materials by 10.5% during the first quarter. Castleark Management LLC now owns 21,860 shares of the construction company’s stock valued at $5,940,000 after acquiring an additional 2,080 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Eagle Materials by 10.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,464 shares of the construction company’s stock worth $670,000 after acquiring an additional 240 shares during the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in shares of Eagle Materials in the first quarter worth about $544,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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; 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.