Eagle Materials (NYSE:EXP) Stock Price Target Cut by Citigroup

Key Points

• Citigroup cut Eagle Materials’ price target from $232 to $190 while maintaining a “neutral” rating, implying approximately 9.76% upside from the stock’s $173.11 price.
• Analyst sentiment remains cautious: MarketBeat reports an average “Hold” rating and a consensus price target of $213.67, while several firms have recently lowered their targets.
• Eagle Materials reported quarterly EPS of $3.29, below the $3.37 consensus estimate, though revenue of $650.97 million exceeded expectations and rose 2.6% year over year.

Eagle Materials (NYSE:EXP - Get Free Report) had its target price cut by equities researchers at Citigroup from $232.00 to $190.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the construction company's stock. Citigroup's target price suggests a potential upside of 9.76% from the company's current price.

EXP has been the subject of several other reports. Zacks Research cut Eagle Materials from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Stephens lifted their price objective on Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eagle Materials in a research report on Friday, September 11th. Wells Fargo & Company restated an "equal weight" rating and set a $196.00 price objective (down from $231.00) on shares of Eagle Materials in a report on Wednesday, September 9th. Finally, DA Davidson decreased their price objective on shares of Eagle Materials from $220.00 to $207.00 and set a "neutral" rating for the company in a research note on Monday, September 14th. Ten research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Eagle Materials has an average rating of "Hold" and an average price target of $213.67.

Eagle Materials Stock Up 0.0%

EXP stock traded up $0.04 during mid-day trading on Friday, hitting $173.11. 178,044 shares of the company were exchanged, compared to its average volume of 454,918. The firm has a market cap of $5.31 billion, a P/E ratio of 13.69 and a beta of 1.33. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. Eagle Materials has a 1-year low of $167.32 and a 1-year high of $245.53. The firm's 50 day simple moving average is $196.41 and its 200 day simple moving average is $202.46.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.08). Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The company had revenue of $650.97 million during the quarter, compared to the consensus estimate of $620.35 million. During the same quarter in the previous year, the business earned $3.76 EPS. Eagle Materials's revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Eagle Materials will post 12.66 EPS for the current fiscal year.

Insider Buying and Selling at Eagle Materials

In related 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 completion of the sale, the senior vice president directly owned 10,142 shares of the company's stock, valued at approximately $2,068,562.32. This represents a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Eagle Materials in the 2nd quarter valued at about $688,486,000. W1M Asset Management Ltd purchased a new position in Eagle Materials in the second quarter valued at about $155,199,000. William Blair Investment Management LLC acquired a new stake in Eagle Materials in the second quarter valued at $129,760,000. Black Creek Investment Management Inc. purchased a new position in Eagle Materials during the 4th quarter valued at about $103,778,000. Finally, Norges Bank purchased a new position in shares of Eagle Materials during the 4th quarter worth approximately $90,147,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Materials

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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