Eagle Materials (NYSE:EXP) Given New $224.00 Price Target at Citigroup

Eagle Materials (NYSE:EXP) had its price target dropped by Citigroup from $232.00 to $224.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Citigroup’s target price suggests a potential upside of 4.14% from the company’s current price.

Several other brokerages have also recently issued reports on EXP. Stephens restated an “equal weight” rating and issued a $245.00 target price on shares of Eagle Materials in a report on Tuesday, January 20th. Truist Financial reissued a “hold” rating and issued a $210.00 price target (down previously from $280.00) on shares of Eagle Materials in a research report on Friday, December 19th. Zacks Research raised Eagle Materials from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. JPMorgan Chase & Co. cut their price target on Eagle Materials from $245.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Wells Fargo & Company lowered their price objective on Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.90.

Eagle Materials Price Performance

Shares of EXP stock traded up $5.63 on Tuesday, reaching $215.10. 27,268 shares of the company were exchanged, compared to its average volume of 494,994. Eagle Materials has a 1 year low of $191.91 and a 1 year high of $262.81. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27. The business has a 50-day moving average price of $220.46 and a 200 day moving average price of $224.05. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 16.12 and a beta of 1.38.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.32 by ($0.10). The firm had revenue of $555.96 million for the quarter, compared to analysts’ expectations of $556.41 million. Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.Eagle Materials’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $3.59 earnings per share. Equities research analysts forecast that Eagle Materials will post 14.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David E. Rush bought 1,000 shares of Eagle Materials stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price of $208.08 per share, for a total transaction of $208,080.00. Following the purchase, the director owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. The trade was a 31.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Eagle Materials

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in Eagle Materials by 130.9% in the third quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock valued at $30,000 after acquiring an additional 72 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Eagle Materials in the 3rd quarter valued at approximately $30,000. Hantz Financial Services Inc. grew its holdings in Eagle Materials by 7,750.0% in the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. MAI Capital Management increased its position in shares of Eagle Materials by 3,060.0% in the second quarter. MAI Capital Management now owns 158 shares of the construction company’s stock valued at $32,000 after buying an additional 153 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Eagle Materials during the 3rd quarter worth $34,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.