DA Davidson Issues Pessimistic Forecast for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its target price lowered by analysts at DA Davidson from $260.00 to $245.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. DA Davidson’s price objective indicates a potential upside of 14.08% from the company’s current price.

Other research analysts have also recently issued reports about the company. Loop Capital decreased their price target on Eagle Materials from $245.00 to $237.00 and set a “hold” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on Eagle Materials from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. The Goldman Sachs Group set a $242.00 price objective on Eagle Materials and gave the stock a “buy” rating in a research report on Wednesday. Stephens set a $255.00 price objective on Eagle Materials and gave the stock an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus set a $241.00 price objective on Eagle Materials and gave the stock a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $260.00.

Eagle Materials Trading Up 0.5%

Shares of Eagle Materials stock opened at $214.77 on Friday. The stock has a market cap of $7.15 billion, a P/E ratio of 15.34 and a beta of 1.36. The stock’s 50 day simple moving average is $223.74 and its 200-day simple moving average is $246.98. Eagle Materials has a 1-year low of $201.61 and a 1-year high of $321.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 1.01.

Eagle Materials (NYSE:EXP) last issued its earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. The company had revenue of $470.18 million for the quarter, compared to analyst estimates of $483.14 million. During the same quarter in the prior year, the firm earned $2.24 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts predict that Eagle Materials will post 14.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Eagle Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in EXP. SVB Wealth LLC acquired a new stake in Eagle Materials in the first quarter valued at about $41,000. Private Trust Co. NA lifted its position in Eagle Materials by 53.0% in the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company’s stock valued at $51,000 after purchasing an additional 71 shares during the period. Parallel Advisors LLC lifted its position in Eagle Materials by 26.8% in the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company’s stock valued at $55,000 after purchasing an additional 52 shares during the period. Huntington National Bank lifted its position in Eagle Materials by 154.8% in the fourth quarter. Huntington National Bank now owns 237 shares of the construction company’s stock valued at $58,000 after purchasing an additional 144 shares during the period. Finally, R Squared Ltd acquired a new stake in Eagle Materials in the fourth quarter valued at about $81,000. Hedge funds and other 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.