Eagle Materials (NYSE:EXP) PT Raised to $290.00

Eagle Materials (NYSE:EXP) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $270.00 to $290.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.29% from the stock’s current price.

A number of other research analysts also recently issued reports on EXP. Citigroup upped their target price on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Stephens upped their target price on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Raymond James lowered Eagle Materials from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $297.78.

Eagle Materials Price Performance

EXP opened at $289.16 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.17. The company’s 50 day simple moving average is $263.77 and its 200-day simple moving average is $250.06. Eagle Materials has a one year low of $145.03 and a one year high of $295.34. The stock has a market capitalization of $9.79 billion, a P/E ratio of 21.23 and a beta of 1.32.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.57 by $0.37. Eagle Materials had a return on equity of 37.10% and a net margin of 21.65%. The company had revenue of $608.69 million during the quarter, compared to analysts’ expectations of $622.06 million. During the same period last year, the firm earned $3.55 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Eagle Materials will post 15.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total value of $277,620.00. Following the transaction, the director now owns 7,943 shares of the company’s stock, valued at approximately $2,205,135.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Eric Cribbs sold 1,851 shares of Eagle Materials stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $277.06, for a total value of $512,838.06. Following the sale, the insider now owns 13,937 shares of the company’s stock, valued at approximately $3,861,385.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George John Damiris sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares in the company, valued at $2,205,135.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,851 shares of company stock valued at $2,124,258. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Eagle Materials

A number of institutional investors have recently made changes to their positions in the business. Baupost Group LLC MA bought a new position in Eagle Materials in the first quarter valued at $71,199,000. Captrust Financial Advisors grew its holdings in shares of Eagle Materials by 61.6% in the 1st quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock valued at $138,485,000 after acquiring an additional 194,342 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Eagle Materials by 3,537.5% in the first quarter. Jupiter Asset Management Ltd. now owns 172,779 shares of the construction company’s stock valued at $46,953,000 after acquiring an additional 168,029 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Eagle Materials by 25.2% during the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock worth $175,111,000 after acquiring an additional 162,049 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Eagle Materials by 33.4% during the second quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock valued at $115,189,000 after purchasing an additional 132,677 shares during the last quarter. 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, including Portland limestone 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, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.