Citigroup Issues Pessimistic Forecast for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its price target reduced by stock analysts at Citigroup from $224.00 to $217.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Citigroup’s price objective would indicate a potential upside of 8.48% from the company’s previous close.

Several other research analysts have also recently commented on EXP. Royal Bank Of Canada increased their target price on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on Eagle Materials from $240.00 to $246.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. DA Davidson decreased their target price on Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Zacks Research upgraded shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $215.00 price objective (down from $230.00) on shares of Eagle Materials in a research note on Monday, February 16th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $223.30.

Eagle Materials Stock Down 0.1%

Shares of EXP stock traded down $0.22 on Thursday, hitting $200.04. 205,207 shares of the stock were exchanged, compared to its average volume of 462,044. The company has a current ratio of 3.66, a quick ratio of 2.68 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $6.29 billion, a P/E ratio of 15.25 and a beta of 1.38. Eagle Materials has a fifty-two week low of $171.99 and a fifty-two week high of $243.64. The business has a 50-day moving average of $196.05 and a 200 day moving average of $210.66.

Eagle Materials (NYSE:EXP) last released its 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 for the quarter, compared to analysts’ expectations of $451.99 million. During the same quarter in the previous year, the business posted $2.00 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Eagle Materials will post 12.5 EPS for the current year.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors and hedge funds have recently modified their holdings of EXP. Principal Financial Group Inc. grew its holdings in Eagle Materials by 14.6% during the third quarter. Principal Financial Group Inc. now owns 511,372 shares of the construction company’s stock valued at $119,179,000 after purchasing an additional 65,072 shares during the period. Bank of New York Mellon Corp lifted its holdings in Eagle Materials by 61.1% during the third quarter. Bank of New York Mellon Corp now owns 500,474 shares of the construction company’s stock valued at $116,630,000 after purchasing an additional 189,725 shares during the last quarter. Lighthouse Investment Partners LLC increased its stake in shares of Eagle Materials by 743.8% in the third quarter. Lighthouse Investment Partners LLC now owns 34,317 shares of the construction company’s stock worth $7,997,000 after purchasing an additional 30,250 shares in the last quarter. Cambiar Investors LLC bought a new stake in shares of Eagle Materials in the fourth quarter valued at approximately $1,321,000. Finally, Madison Asset Management LLC purchased a new stake in shares of Eagle Materials during the 3rd quarter valued at approximately $1,976,000. 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.