Eagle Materials (NYSE:EXP) Stock Rating Upgraded by JPMorgan Chase & Co.

Eagle Materials (NYSE:EXP) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Tuesday. The brokerage currently has a $225.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.69% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company increased their price objective on shares of Eagle Materials from $240.00 to $246.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Stephens cut their price objective on shares of Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th. DA Davidson cut their price objective on shares of Eagle Materials from $225.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 price objective on shares of Eagle Materials in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada raised their target price on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $224.30.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $221.26 on Tuesday. The business has a 50-day simple moving average of $199.75 and a two-hundred day simple moving average of $210.82. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 16.86 and a beta of 1.37. Eagle Materials has a fifty-two week low of $171.99 and a fifty-two week high of $243.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.09 and a current ratio of 3.66.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 earnings per share (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 analyst estimates of $451.99 million. During the same period last year, the firm posted $2.00 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, analysts expect that Eagle Materials will post 13.02 earnings per share for the current year.

Institutional Trading of Eagle Materials

Several institutional investors and hedge funds have recently made changes to their positions in EXP. Black Creek Investment Management Inc. bought a new stake in shares of Eagle Materials in the fourth quarter valued at about $103,778,000. Norges Bank bought a new position in Eagle Materials in the fourth quarter worth about $90,147,000. Baupost Group LLC MA raised its holdings in Eagle Materials by 39.0% in the third quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock worth $218,978,000 after purchasing an additional 263,403 shares in the last quarter. Earnest Partners LLC purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $52,674,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Eagle Materials during the third quarter worth about $51,812,000. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Company Profile

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.