Eagle Materials (NYSE:EXP) Upgraded at Zacks Research

Eagle Materials (NYSE:EXP) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on EXP. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $215.00 target price (down from $230.00) on shares of Eagle Materials in a report on Monday, February 16th. Truist Financial reaffirmed a “hold” rating and set a $210.00 price target (down from $280.00) on shares of Eagle Materials in a research note on Friday, December 19th. Wells Fargo & Company lowered their price objective on shares of Eagle Materials from $251.00 to $241.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Citigroup dropped their price objective on shares of Eagle Materials from $232.00 to $224.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Finally, 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. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and an average price target of $228.36.

Eagle Materials Price Performance

Shares of Eagle Materials stock opened at $183.07 on Monday. The stock has a 50 day moving average of $214.76 and a 200 day moving average of $219.98. Eagle Materials has a 12 month low of $171.99 and a 12 month high of $243.64. The firm has a market cap of $5.75 billion, a PE ratio of 13.86 and a beta of 1.35. The company has a current ratio of 4.27, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, January 29th. The construction company reported $3.22 earnings per share 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 net margin of 18.70% and a return on equity of 28.96%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.59 EPS. On average, research analysts expect that Eagle Materials will post 14.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Baupost Group LLC MA raised its stake in shares of Eagle Materials by 26.1% in the fourth quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company’s stock valued at $244,967,000 after acquiring an additional 245,588 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Eagle Materials by 36.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 830,284 shares of the construction company’s stock worth $167,809,000 after purchasing an additional 219,627 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Eagle Materials by 0.6% during the 3rd quarter. William Blair Investment Management LLC now owns 615,250 shares of the construction company’s stock worth $143,378,000 after purchasing an additional 3,505 shares during the period. Dimensional Fund Advisors LP grew its holdings in Eagle Materials by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 610,645 shares of the construction company’s stock valued at $126,217,000 after purchasing an additional 7,749 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Eagle Materials by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 534,380 shares of the construction company’s stock valued at $124,532,000 after purchasing an additional 13,104 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

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.