Zacks Investment Research Upgrades Eagle Materials, Inc. (EXP) to “Buy”
Eagle Materials, Inc. (NYSE:EXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $111.00 target price on the construction company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.98% from the stock’s previous close.
According to Zacks, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates. “
Shares of Eagle Materials (NYSE:EXP) traded down 2.35% during mid-day trading on Wednesday, hitting $96.54. 621,566 shares of the company traded hands. The stock has a market capitalization of $4.68 billion, a PE ratio of 23.55 and a beta of 1.36. Eagle Materials has a 1-year low of $71.24 and a 1-year high of $110.64. The firm’s 50 day moving average price is $97.31 and its 200-day moving average price is $99.30.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, May 18th. The construction company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. The business had revenue of $278.60 million for the quarter, compared to analyst estimates of $271.18 million. Eagle Materials had a net margin of 16.98% and a return on equity of 18.45%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Eagle Materials will post $5.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Wednesday, June 21st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Monday, June 19th. Eagle Materials’s dividend payout ratio (DPR) is presently 9.64%.
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In other Eagle Materials news, CEO David B. Powers sold 11,000 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $99.03, for a total value of $1,089,330.00. Following the sale, the chief executive officer now owns 73,400 shares of the company’s stock, valued at approximately $7,268,802. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James H. Graass sold 10,000 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $101.00, for a total transaction of $1,010,000.00. Following the completion of the sale, the executive vice president now directly owns 69,653 shares in the company, valued at approximately $7,034,953. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the company. IFP Advisors Inc raised its stake in shares of Eagle Materials by 38.1% in the first quarter. IFP Advisors Inc now owns 1,092 shares of the construction company’s stock worth $106,000 after buying an additional 301 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Eagle Materials by 9.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,373 shares of the construction company’s stock worth $133,000 after buying an additional 113 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Eagle Materials by 9,753.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 198,045 shares of the construction company’s stock worth $198,000 after buying an additional 196,035 shares during the period. Fayez Sarofim & Co. purchased a new stake in shares of Eagle Materials during the third quarter worth about $203,000. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $218,000. 91.85% of the stock is currently owned by institutional investors and hedge funds.
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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