Eagle Materials (NYSE:EXP) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Eagle Materials (NYSE:EXP) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group restated a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research report on Wednesday, May 20th. Wells Fargo & Company increased their price objective on Eagle Materials from $240.00 to $246.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada lifted their target price on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. Citigroup dropped their target price on Eagle Materials from $224.00 to $217.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. Finally, Stephens cut their price target on Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $224.30.

Eagle Materials Trading Up 0.8%

Shares of Eagle Materials stock opened at $220.88 on Wednesday. Eagle Materials has a 1 year low of $171.99 and a 1 year high of $245.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.09 and a current ratio of 3.66. The company has a market capitalization of $6.83 billion, a P/E ratio of 16.83 and a beta of 1.37. The company’s fifty day moving average is $213.26 and its two-hundred day moving average is $211.74.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.32. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The business had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. During the same period in the prior year, the company earned $2.00 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts forecast that Eagle Materials will post 13.02 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. Eagle Materials’s dividend payout ratio is currently 7.62%.

Institutional Investors Weigh In On Eagle Materials

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

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.