Eagle Materials (NYSE:EXP) Lowered to “Hold” Rating by Jefferies Financial Group

Eagle Materials (NYSE:EXP) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Monday, MarketBeat reports. They presently have a $310.00 price target on the construction company’s stock, down from their prior price target of $330.00. Jefferies Financial Group’s price target would indicate a potential upside of 16.48% from the stock’s current price.

A number of other brokerages have also recently issued reports on EXP. JPMorgan Chase & Co. increased their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research note on Monday, November 25th. The Goldman Sachs Group lifted their target price on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial boosted their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Eagle Materials has a consensus rating of “Moderate Buy” and an average target price of $304.89.

Eagle Materials Trading Down 0.7 %

Shares of EXP opened at $266.15 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The stock has a market cap of $8.93 billion, a PE ratio of 18.80 and a beta of 1.33. Eagle Materials has a 1 year low of $195.93 and a 1 year high of $321.93. The stock has a 50 day simple moving average of $296.42 and a 200-day simple moving average of $263.90.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). The company had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $4.28 earnings per share. On average, sell-side analysts predict that Eagle Materials will post 15.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the sale, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. The trade was a 9.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the sale, the chief executive officer now owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock worth $5,205,311 in the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Trading of Eagle Materials

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in Eagle Materials by 78.1% in the third quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock valued at $10,915,000 after purchasing an additional 16,645 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Eagle Materials by 481.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,315 shares of the construction company’s stock worth $1,808,000 after buying an additional 6,885 shares during the period. Ausbil Investment Management Ltd grew its position in shares of Eagle Materials by 400.3% during the 3rd quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock worth $3,733,000 after buying an additional 10,384 shares during the period. Baupost Group LLC MA increased its stake in shares of Eagle Materials by 46.2% in the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock valued at $143,904,000 after acquiring an additional 158,171 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Eagle Materials in the 3rd quarter valued at approximately $920,000. Institutional investors own 96.07% of the company’s stock.

About Eagle Materials

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.