Citigroup Lowers Eagle Materials (NYSE:EXP) Price Target to $232.00

Key Points

• Citigroup lowered Eagle Materials’ price target to $232 from $240 while maintaining a “neutral” rating, implying approximately 10.17% upside from the prior close.
• Analyst sentiment remains cautious: Eagle Materials has an average “Hold” rating from MarketBeat, with one Buy and nine Hold ratings, and an average price target of $222.56.
• The company’s latest quarterly results were mixed, with EPS of $3.29 missing estimates of $3.37, while revenue of $650.97 million exceeded expectations and rose 2.6% year over year.

Eagle Materials (NYSE:EXP - Get Free Report) had its price target lowered by Citigroup from $240.00 to $232.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the construction company's stock. Citigroup's price target indicates a potential upside of 10.17% from the stock's previous close.

EXP has been the subject of a number of other reports. Wells Fargo & Company reduced their price target 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. Jefferies Financial Group reaffirmed a "hold" rating and set a $200.00 price objective on shares of Eagle Materials in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. upgraded shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 target price for the company in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Eagle Materials has an average rating of "Hold" and an average price target of $222.56.

Eagle Materials Stock Performance

Shares of EXP stock opened at $210.58 on Monday. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 16.71 and a beta of 1.38. Eagle Materials has a 1-year low of $171.99 and a 1-year high of $245.53. 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 stock's fifty day simple moving average is $215.44 and its 200-day simple moving average is $209.93.

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 (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the company posted $3.76 earnings per share. The firm'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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eagle Materials

Several large investors have recently made changes to their positions in the company. Clearstead Advisors LLC lifted its stake in Eagle Materials by 266.7% in the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock valued at $27,000 after acquiring an additional 96 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock worth $28,000 after purchasing an additional 109 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Eagle Materials during the 4th quarter worth $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Eagle Materials during the 3rd quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock valued at $35,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Eagle Materials Company Profile

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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