Eagle Materials (NYSE:EXP) Given New $232.00 Price Target at Citigroup

Eagle Materials (NYSE:EXP) had its target price dropped by research analysts at Citigroup from $240.00 to $232.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Citigroup’s target price points to a potential upside of 10.17% from the company’s current price.

A number of other research firms have also commented on EXP. Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research report on Wednesday, May 20th. Royal Bank Of Canada upped their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 20th. Stephens raised their target price on shares of Eagle Materials from $225.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Zacks Research downgraded shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Wells Fargo & Company cut their target price on shares of Eagle Materials from $240.00 to $231.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $222.56.

Eagle Materials Stock Performance

Shares of NYSE EXP opened at $210.58 on Monday. The business’s 50-day simple moving average is $215.44 and its 200-day simple moving average is $209.93. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. Eagle Materials has a 52 week low of $171.99 and a 52 week high of $245.53. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 16.71 and a beta of 1.38.

Eagle Materials (NYSE:EXP) last posted its earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.08). The company had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.76 earnings per share. As a group, equities research analysts expect that Eagle Materials will post 12.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eagle Materials

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC increased its position in Eagle Materials by 266.7% during the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock worth $27,000 after acquiring an additional 96 shares during the period. IFP Advisors Inc raised its stake in Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company’s stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Eagle Materials in the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new stake in Eagle Materials in the 3rd quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC grew its position in Eagle Materials by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Eagle Materials

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.