Eagle Materials (NYSE:EXP) Given New $207.00 Price Target at DA Davidson

Key Points

• DA Davidson lowered Eagle Materials’ price target from $220 to $207 while maintaining a “neutral” rating, implying approximately 12.7% upside from the prior close.
• Analyst sentiment remains cautious: nine analysts rate the stock “Hold” and one rates it “Sell,” producing an average “Reduce” rating and a consensus price target of $218.33.
• Eagle Materials’ shares closed at $183.70 after falling $1.42, while its latest quarterly results missed EPS estimates despite revenue exceeding expectations and increasing 2.6% year over year.

Eagle Materials (NYSE:EXP - Get Free Report) had its price objective lowered by research analysts at DA Davidson from $220.00 to $207.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the construction company's stock. DA Davidson's price objective points to a potential upside of 12.68% from the company's previous close.

A number of other brokerages have also recently issued reports on EXP. Weiss Ratings restated a "hold (c)" rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Royal Bank Of Canada boosted their price target on shares of Eagle Materials from $208.00 to $219.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 20th. Stephens upped their price target on shares of Eagle Materials from $225.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price objective for the company in a report on Tuesday, June 2nd. Finally, Zacks Research lowered shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $218.33.

Eagle Materials Stock Performance

Eagle Materials stock traded down $1.42 during trading on Monday, hitting $183.70. The stock had a trading volume of 108,163 shares, compared to its average volume of 451,540. The stock's 50 day moving average is $204.69 and its two-hundred day moving average is $205.39. Eagle Materials has a 1 year low of $171.99 and a 1 year high of $245.53. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 14.54 and a beta of 1.36. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The firm had revenue of $650.97 million during the quarter, compared to analysts' expectations of $620.35 million. During the same period in the prior year, the business earned $3.76 earnings per share. The business's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Eagle Materials will post 12.66 EPS for the current year.

Insiders Place Their Bets

In other Eagle Materials news, SVP Tony Thompson sold 3,074 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $203.96, for a total value of $626,973.04. Following the sale, the senior vice president directly owned 10,142 shares in the company, valued at $2,068,562.32. This represents a 23.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Eagle Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its position in shares of Eagle Materials by 21,446.1% during the 2nd quarter. California State Teachers Retirement System now owns 8,172,000 shares of the construction company's stock valued at $1,838,700,000 after acquiring an additional 8,134,072 shares during the last quarter. BlackRock Inc. purchased a new stake in Eagle Materials in the second quarter valued at approximately $688,486,000. Baupost Group LLC MA raised its stake in Eagle Materials by 26.1% in the fourth quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company's stock valued at $244,967,000 after purchasing an additional 245,588 shares in the last quarter. W1M Asset Management Ltd bought a new stake in Eagle Materials during the second quarter valued at approximately $155,199,000. Finally, Dimensional Fund Advisors LP lifted its position in Eagle Materials by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company's stock valued at $118,846,000 after purchasing an additional 16,782 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc NYSE: EXP is a U.S.-based manufacturer of essential building materials used in residential, commercial and infrastructure construction. The company produces and distributes cement, ready-mix concrete, crushed stone and sand, as well as gypsum wallboard.

Its cement business supplies materials for concrete production and construction projects, while its concrete and aggregates operations provide ready-mix concrete and construction aggregates. Through its American Gypsum operations, Eagle Materials manufactures gypsum wallboard used in interior walls and ceilings.

Headquartered in Dallas, Texas, Eagle Materials serves regional construction markets primarily across the United States, with operations concentrated in states including Texas, Colorado, Nevada and Oklahoma.

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