Eagle Materials (NYSE:EXP) Price Target Cut to $240.00 by Analysts at Wells Fargo & Company

Eagle Materials (NYSE:EXP) had its price objective decreased by Wells Fargo & Company from $246.00 to $240.00 in a research note issued to investors on Wednesday morning, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group reissued a “hold” rating and set a $200.00 target price on shares of Eagle Materials in a research note on Wednesday, May 20th. Royal Bank Of Canada boosted their price objective on Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, May 20th. Stephens decreased their target price on Eagle Materials from $235.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Citigroup raised their target price on Eagle Materials from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price for the company in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and a consensus target price of $226.00.

Eagle Materials Price Performance

Eagle Materials stock opened at $204.17 on Wednesday. The company has a fifty day simple moving average of $213.74 and a 200-day simple moving average of $211.50. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 15.56 and a beta of 1.37. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 1.18. Eagle Materials has a 52-week low of $171.99 and a 52-week high of $245.53.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.32. The company had revenue of $479.11 million during the quarter, compared to analysts’ expectations of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. Eagle Materials’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 EPS. On average, equities analysts anticipate that Eagle Materials will post 13.02 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. Eagle Materials’s payout ratio is 7.62%.

Institutional Investors Weigh In On Eagle Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Baupost Group LLC MA boosted its stake in Eagle Materials by 26.1% during the 4th quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company’s stock worth $244,967,000 after purchasing an additional 245,588 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Eagle Materials by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company’s stock worth $118,846,000 after purchasing an additional 16,782 shares during the last quarter. Black Creek Investment Management Inc. acquired a new stake in shares of Eagle Materials during the fourth quarter worth $103,778,000. Norges Bank acquired a new stake in shares of Eagle Materials during the fourth quarter worth $90,147,000. Finally, Invesco Ltd. grew its position in Eagle Materials by 4.6% in the 3rd quarter. Invesco Ltd. now owns 363,508 shares of the construction company’s stock valued at $84,712,000 after buying an additional 15,899 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

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.