Eagle Materials Inc. (EXP) Receives Average Recommendation of “Buy” from Brokerages
Shares of Eagle Materials Inc. (NYSE:EXP) have earned an average recommendation of “Buy” from the nine brokerages that are covering the firm. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $82.00.
Several equities analysts have weighed in on the company. CL King downgraded Eagle Materials from a “strong-buy” rating to a “neutral” rating in a research report on Tuesday, July 26th. DA Davidson decreased their price objective on Eagle Materials from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, July 26th. Zacks Investment Research raised Eagle Materials from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, July 26th. Finally, Standpoint Research downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday.
In related news, EVP James H. Graass sold 18,198 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $79.93, for a total value of $1,454,566.14. Following the completion of the transaction, the executive vice president now directly owns 68,817 shares of the company’s stock, valued at $5,500,542.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William R. Devlin sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $92.00, for a total value of $644,000.00. Following the completion of the transaction, the senior vice president now directly owns 51,405 shares of the company’s stock, valued at $4,729,260. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Hermes Investment Management Ltd. increased its position in shares of Eagle Materials by 23.9% in the second quarter. Hermes Investment Management Ltd. now owns 456,187 shares of the company’s stock worth $35,195,000 after buying an additional 88,096 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Eagle Materials by 9.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 713,345 shares of the company’s stock worth $50,013,000 after buying an additional 63,345 shares in the last quarter. State Street Corp boosted its stake in shares of Eagle Materials by 4.5% in the first quarter. State Street Corp now owns 1,711,658 shares of the company’s stock worth $119,993,000 after buying an additional 74,038 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Eagle Materials during the first quarter worth $602,000. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Eagle Materials by 14.3% in the second quarter. Frontier Capital Management Co. LLC now owns 1,825,759 shares of the company’s stock worth $140,857,000 after buying an additional 227,736 shares in the last quarter. 91.66% of the stock is owned by hedge funds and other institutional investors.
Eagle Materials (NYSE:EXP) opened at 94.11 on Tuesday. Eagle Materials has a one year low of $45.03 and a one year high of $97.05. The firm has a market cap of $4.54 billion, a P/E ratio of 24.21 and a beta of 1.31. The company has a 50-day moving average of $80.20 and a 200 day moving average of $79.26.
Eagle Materials (NYSE:EXP) last released its earnings results on Monday, October 24th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.30 by $0.05. The firm earned $332.70 million during the quarter, compared to analyst estimates of $344.65 million. Eagle Materials had a net margin of 16.43% and a return on equity of 17.96%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. Equities research analysts expect that Eagle Materials will post $4.16 earnings per share for the current fiscal year.
Eagle Materials Company Profile
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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