Eagle Materials (NYSE:EXP) Rating Increased to Hold at DA Davidson

Key Points

• DA Davidson upgraded Eagle Materials to a “hold” rating. The broader analyst consensus remains “Hold,” with one Buy rating and nine Hold ratings and an average price target of $223.67.
• Eagle Materials reported quarterly revenue of $650.97 million, up 2.6% year over year and above estimates, but earnings per share of $3.29 missed consensus by $0.08.
• The stock opened at $199.56, below its 50-day and 200-day moving averages, while institutional investors own a substantial 96.07% of outstanding shares.

Eagle Materials (NYSE:EXP - Get Free Report) was upgraded by equities research analysts at DA Davidson to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Eagle Materials from $240.00 to $231.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Zacks Research downgraded shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Citigroup decreased their price target on shares of Eagle Materials from $240.00 to $232.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Eagle Materials in a report on Tuesday, June 16th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $200.00 price objective on shares of Eagle Materials in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $223.67.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $199.56 on Monday. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $213.07 and a two-hundred day moving average price of $208.83. Eagle Materials has a 1-year low of $171.99 and a 1-year high of $245.53. The company has a market cap of $6.12 billion, a P/E ratio of 15.78 and a beta of 1.38.

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

Institutional Investors Weigh In On Eagle Materials

Several hedge funds and other institutional investors have recently made changes to their positions in EXP. Clearstead Advisors LLC boosted its stake in Eagle Materials by 266.7% during the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock valued at $27,000 after purchasing an additional 96 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Eagle Materials in the fourth quarter worth approximately $29,000. IFP Advisors Inc lifted its holdings in shares of Eagle Materials by 389.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Eagle Materials in the third quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Eagle Materials by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock valued at $35,000 after buying an additional 87 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

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.

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