Citigroup Issues Pessimistic Forecast for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP - Get Free Report) had its target price decreased by investment analysts at Citigroup from $279.00 to $230.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the construction company's stock. Citigroup's price objective would indicate a potential upside of 9.87% from the stock's current price.

A number of other brokerages also recently issued reports on EXP. Truist Financial decreased their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, April 24th. DA Davidson dropped their price target on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Loop Capital lowered their price objective on Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Stephens set a $255.00 price objective on Eagle Materials and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group set a $242.00 price objective on Eagle Materials and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Eagle Materials currently has an average rating of "Hold" and an average target price of $254.44.

Eagle Materials Price Performance

NYSE EXP traded down $8.70 during trading hours on Wednesday, reaching $209.35. The company's stock had a trading volume of 174,203 shares, compared to its average volume of 337,712. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 14.95 and a beta of 1.36. Eagle Materials has a 1 year low of $201.61 and a 1 year high of $321.93. The firm's 50-day moving average price is $223.68 and its 200-day moving average price is $245.65. 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 (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). The company had revenue of $470.18 million for the quarter, compared to analysts' expectations of $483.14 million. Eagle Materials had a net margin of 20.91% and a return on equity of 34.14%. The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.24 EPS. On average, equities research analysts predict that Eagle Materials will post 14.39 EPS for the current fiscal year.

Institutional Trading of Eagle Materials

Several hedge funds have recently modified their holdings of EXP. Transce3nd LLC increased its stake in Eagle Materials by 9.7% in the 1st quarter. Transce3nd LLC now owns 552 shares of the construction company's stock valued at $122,000 after purchasing an additional 49 shares in the last quarter. Sprott Inc. increased its stake in Eagle Materials by 3.0% in the 4th quarter. Sprott Inc. now owns 1,695 shares of the construction company's stock valued at $418,000 after purchasing an additional 50 shares in the last quarter. Parallel Advisors LLC increased its stake in Eagle Materials by 26.8% in the 1st 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. CIBC Asset Management Inc increased its stake in Eagle Materials by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,086 shares of the construction company's stock valued at $268,000 after purchasing an additional 54 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Eagle Materials by 6.0% in the 4th quarter. Hsbc Holdings PLC now owns 973 shares of the construction company's stock valued at $240,000 after purchasing an additional 55 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.

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