JPMorgan Chase & Co. Reiterates “Underweight” Rating for Eagle Materials (NYSE:EXP)

Eagle Materials (NYSE:EXP)‘s stock had its “underweight” rating reissued by JPMorgan Chase & Co. in a report issued on Monday, Marketbeat Ratings reports. They presently have a $215.00 target price on the construction company’s stock, down from their prior target price of $230.00. JPMorgan Chase & Co.‘s price target points to a potential downside of 6.39% from the company’s previous close.

EXP has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Eagle Materials in a research note on Monday, December 29th. DA Davidson dropped their price target on shares of Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Truist Financial reaffirmed a “hold” rating and issued a $210.00 price objective (down previously from $280.00) on shares of Eagle Materials in a research note on Friday, December 19th. Jefferies Financial Group reissued a “hold” rating and set a $226.00 target price on shares of Eagle Materials in a research note on Monday, November 3rd. Finally, Wall Street Zen cut Eagle Materials from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $230.40.

Eagle Materials Stock Down 2.3%

EXP stock opened at $229.67 on Monday. The firm’s 50-day moving average is $222.14 and its two-hundred day moving average is $224.61. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 17.39 and a beta of 1.38. Eagle Materials has a 52 week low of $191.91 and a 52 week high of $258.86. 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 posted its quarterly earnings data on Thursday, January 29th. The construction company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.32 by ($0.10). Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The company had revenue of $555.96 million during the quarter, compared to the consensus estimate of $556.41 million. During the same quarter last year, the business earned $3.59 earnings per share. The company’s revenue was down .4% on a year-over-year basis. On average, analysts forecast that Eagle Materials will post 14.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eagle Materials

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of Eagle Materials by 130.9% in the 3rd quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock valued at $30,000 after purchasing an additional 72 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Eagle Materials during the third quarter valued at approximately $30,000. Clearstead Advisors LLC increased its stake in Eagle Materials by 266.7% in the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company’s stock valued at $27,000 after buying an additional 96 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Eagle Materials in the 4th quarter worth approximately $29,000. Finally, IFP Advisors Inc grew its holdings in shares of 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 acquiring an additional 109 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.