Eagle Materials (NYSE:EXP) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Key Points

• JPMorgan cut Eagle Materials’ price target from $225 to $200 while maintaining a “neutral” rating, implying roughly 21.6% upside from the prior close.
• Analyst sentiment remains cautious: ten analysts rate the stock “Hold,” with a consensus price target of $199.56. Several firms, including RBC, Citigroup, Wells Fargo and Truist, also recently lowered their targets.
• Eagle Materials shares rose 0.5% to $164.46 but remained near their 52-week low of $162.89; the company’s latest quarterly results missed earnings expectations despite revenue exceeding forecasts.

Eagle Materials (NYSE:EXP - Get Free Report) had its target price cut by analysts at JPMorgan Chase & Co. from $225.00 to $200.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the construction company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 21.61% from the company's previous close.

Several other equities research analysts have also commented on EXP. Royal Bank Of Canada reduced their price target on shares of Eagle Materials from $219.00 to $170.00 and set a "sector perform" rating for the company in a report on Friday. Stephens increased their price objective 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. Citigroup cut their price objective on shares of Eagle Materials from $232.00 to $190.00 and set a "neutral" rating on the stock in a report on Friday, October 2nd. Wells Fargo & Company reduced their price objective on shares of Eagle Materials from $196.00 to $188.00 and set an "equal weight" rating for the company in a research note on Monday, October 5th. Finally, Truist Financial reduced their price objective on shares of Eagle Materials from $210.00 to $165.00 and set a "hold" rating for the company in a research note on Thursday, October 8th. Ten investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and a consensus price target of $199.56.

Eagle Materials Stock Up 0.5%

Shares of Eagle Materials stock traded up $0.84 during trading on Tuesday, hitting $164.46. 176,548 shares of the stock traded hands, compared to its average volume of 453,899. The firm has a market cap of $5.04 billion, a P/E ratio of 12.99 and a beta of 1.33. The company has a current ratio of 3.23, a quick ratio of 1.91 and a debt-to-equity ratio of 1.17. Eagle Materials has a 52-week low of $162.89 and a 52-week high of $245.53. The stock's fifty day simple moving average is $190.17 and its 200 day simple moving average is $201.75.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share 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 business had revenue of $650.97 million during the quarter, compared to analysts' expectations of $620.35 million. During the same period last year, the company earned $3.76 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Eagle Materials will post 12.66 earnings per share for the current fiscal year.

Insider Activity at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the firm's stock in a transaction dated 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 approximately $2,068,562.32. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Eagle Materials during the 2nd quarter valued at approximately $688,486,000. W1M Asset Management Ltd acquired a new stake in Eagle Materials in the 2nd quarter valued at $155,199,000. William Blair Investment Management LLC purchased a new stake in Eagle Materials in the 2nd quarter worth $129,760,000. Bank of America Corp DE purchased a new stake in Eagle Materials in the 2nd quarter worth $66,255,000. Finally, Bank of New York Mellon Corp purchased a new stake in Eagle Materials in the 2nd quarter worth $51,858,000. Institutional investors own 96.07% of the company's stock.

Eagle Materials Company Profile

Eagle Materials Inc NYSE: EXP is a Dallas-based manufacturer of basic building materials used in residential, commercial and infrastructure construction. Its primary products include Portland cement, ready-mixed concrete, aggregates, gypsum wallboard and gypsum paperboard.

The company operates through businesses focused on cement, concrete and aggregates, and gypsum wallboard and paperboard. Its materials are sold primarily in the United States, with production and distribution operations serving markets across several regions, including the central, southern and southwestern parts of the country.

Eagle Materials traces its origins to the construction-materials operations formerly associated with Centex Corporation and became an independent, publicly traded company in 1994.

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