Eagle Materials Inc (EXP) Upgraded by Citigroup Inc. to Buy
Eagle Materials Inc (NYSE:EXP) was upgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued on Monday, July 31st, MarketBeat Ratings reports. The brokerage currently has a $110.00 price objective on the construction company’s stock, down from their previous price objective of $115.00. Citigroup Inc.’s price objective suggests a potential upside of 20.19% from the company’s previous close.
A number of other research analysts also recently issued reports on EXP. BidaskClub downgraded Eagle Materials from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded Eagle Materials from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Finally, Stephens raised Eagle Materials from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 30th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $104.67.
Shares of Eagle Materials (NYSE:EXP) opened at 91.52 on Monday. Eagle Materials has a 52-week low of $73.27 and a 52-week high of $110.64. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 21.28 and a beta of 1.23. The stock’s 50 day moving average price is $92.44 and its 200-day moving average price is $97.68.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.17. The company had revenue of $366.10 million for the quarter, compared to the consensus estimate of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. On average, analysts forecast that Eagle Materials will post $5.38 EPS for the current year.
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In other news, insider Gerald J. Essl sold 2,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $93.40, for a total value of $186,800.00. Following the completion of the sale, the insider now directly owns 39,859 shares of the company’s stock, valued at $3,722,830.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James H. Graass sold 10,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $101.00, for a total value of $1,010,000.00. Following the completion of the sale, the executive vice president now directly owns 69,653 shares of the company’s stock, valued at $7,034,953. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,317 shares of company stock valued at $2,255,732. Company insiders own 4.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of Eagle Materials during the fourth quarter valued at approximately $681,000. USA Financial Portformulas Corp acquired a new position in Eagle Materials during the fourth quarter valued at about $395,000. Teachers Advisors LLC raised its position in Eagle Materials by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 286,551 shares of the construction company’s stock valued at $28,234,000 after buying an additional 12,315 shares in the last quarter. Macquarie Group Ltd. acquired a new position in Eagle Materials during the fourth quarter valued at about $2,956,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Eagle Materials during the first quarter valued at about $25,966,000. 92.68% of the stock is owned by hedge funds and other institutional investors.
About Eagle Materials
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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