Citigroup Cuts Eagle Materials (NYSE:EXP) Price Target to $230.00

Eagle Materials (NYSE:EXP - Get Free Report) had its price target reduced by research analysts at Citigroup from $279.00 to $230.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the construction company's stock. Citigroup's target price would indicate a potential upside of 13.79% from the company's current price.

Several other analysts also recently weighed in on EXP. The Goldman Sachs Group set a $242.00 price objective on Eagle Materials and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus set a $241.00 target price on Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Stephens set a $255.00 price target on shares of Eagle Materials and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Truist Financial decreased their price target on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Loop Capital dropped their price objective on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $254.44.

Eagle Materials Stock Performance

Shares of EXP traded down $2.85 during mid-day trading on Wednesday, hitting $202.12. 752,470 shares of the company's stock were exchanged, compared to its average volume of 342,526. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. Eagle Materials has a 52 week low of $199.66 and a 52 week high of $321.93. The stock's 50-day simple moving average is $222.40 and its 200-day simple moving average is $243.42. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 14.44 and a beta of 1.36.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. The firm had revenue of $470.18 million for the quarter, compared to analyst estimates of $483.14 million. During the same quarter in the prior year, the firm earned $2.24 earnings per share. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Eagle Materials will post 14.39 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC purchased a new stake in shares of Eagle Materials during the 1st quarter valued at $41,000. Private Trust Co. NA lifted its position in Eagle Materials by 53.0% during the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock valued at $51,000 after buying an additional 71 shares during the period. Huntington National Bank grew its position in shares of Eagle Materials by 154.8% in the 4th quarter. Huntington National Bank now owns 237 shares of the construction company's stock worth $58,000 after buying an additional 144 shares during the period. Parallel Advisors LLC increased its stake in shares of Eagle Materials by 26.8% during the first quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after purchasing an additional 52 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Eagle Materials during the fourth quarter valued at approximately $81,000. 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.