Eagle Materials’ (EXP) Overweight Rating Reiterated at Stephens

Eagle Materials (NYSE:EXP)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a note issued to investors on Thursday,Benzinga reports. They presently have a $310.00 target price on the construction company’s stock. Stephens’ price objective indicates a potential upside of 20.52% from the stock’s previous close.

EXP has been the subject of a number of other research reports. The Goldman Sachs Group raised their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, November 25th. JPMorgan Chase & Co. raised their price target on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Jefferies Financial Group downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and cut their price target for the company from $330.00 to $310.00 in a report on Monday, December 16th. Finally, Truist Financial raised their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $300.89.

Eagle Materials Price Performance

NYSE:EXP traded up $3.45 during trading hours on Thursday, reaching $257.21. 32,464 shares of the company’s stock were exchanged, compared to its average volume of 293,556. The company has a market capitalization of $8.63 billion, a P/E ratio of 18.14 and a beta of 1.37. Eagle Materials has a 12 month low of $211.44 and a 12 month high of $321.93. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. The business’s 50-day simple moving average is $266.95 and its two-hundred day simple moving average is $269.75.

Eagle Materials (NYSE:EXP) last issued its earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. Sell-side analysts expect that Eagle Materials will post 15.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the completion of the transaction, the senior vice president now owns 13,212 shares of the company’s stock, valued at approximately $4,148,568. This represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the transaction, the director now directly owns 1,100 shares of the company’s stock, valued at $330,330. This represents a 76.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,866 shares of company stock valued at $5,205,311 in the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Trading of Eagle Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its stake 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 acquiring an additional 16,645 shares during the period. Ausbil Investment Management Ltd increased its stake in Eagle Materials by 400.3% in the third quarter. Ausbil Investment Management Ltd now owns 12,978 shares of the construction company’s stock valued at $3,733,000 after acquiring an additional 10,384 shares during the period. Baupost Group LLC MA increased its stake in Eagle Materials by 46.2% in the third 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 period. Entropy Technologies LP bought a new stake in Eagle Materials in the third quarter valued at about $920,000. Finally, Natixis Advisors LLC increased its stake in Eagle Materials by 11.8% in the third quarter. Natixis Advisors LLC now owns 27,265 shares of the construction company’s stock valued at $7,843,000 after acquiring an additional 2,871 shares during the period. 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.