Eagle Materials (NYSE:EXP) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Eagle Materials from “strong buy” to “hold,” contributing to a broader consensus “hold” rating. Analysts’ average price target is $226, with one Buy rating and ten Hold ratings.
• Eagle Materials shares opened at $221.30, near their 50-day and 200-day moving averages, with a 12-month trading range of $171.99 to $245.53 and a market capitalization of approximately $6.84 billion.
• The company’s latest quarterly results were mixed: earnings per share came in at $3.29, below the $3.37 consensus estimate, while revenue of $650.97 million exceeded expectations of $620.35 million. Institutional investors own approximately 96.07% of the stock.

Eagle Materials (NYSE:EXP - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

EXP has been the subject of several other research reports. Citigroup upped their price target on shares of Eagle Materials from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Royal Bank Of Canada boosted their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Stephens dropped their target price on Eagle Materials from $235.00 to $225.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company cut their price target on Eagle Materials from $246.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Eagle Materials currently has a consensus rating of "Hold" and a consensus price target of $226.00.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $221.30 on Monday. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18. The stock's fifty day moving average price is $214.70 and its 200-day moving average price is $211.10. The firm has a market cap of $6.84 billion, a P/E ratio of 16.87 and a beta of 1.37. Eagle Materials has a 12 month low of $171.99 and a 12 month high of $245.53.

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 28.27% and a net margin of 18.36%.The business had revenue of $650.97 million during the quarter, compared to analysts' expectations of $620.35 million. On average, equities research analysts expect that Eagle Materials will post 12.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eagle Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baupost Group LLC MA grew its stake in shares of Eagle Materials by 26.1% during the fourth quarter. Baupost Group LLC MA now owns 1,185,248 shares of the construction company's stock worth $244,967,000 after acquiring an additional 245,588 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Eagle Materials by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 627,427 shares of the construction company's stock valued at $118,846,000 after acquiring an additional 16,782 shares in the last quarter. Black Creek Investment Management Inc. purchased a new position in shares of Eagle Materials in the 4th quarter valued at approximately $103,778,000. Norges Bank purchased a new position in shares of Eagle Materials in the 4th quarter valued at approximately $90,147,000. Finally, Invesco Ltd. boosted its stake in Eagle Materials by 4.6% in the 3rd quarter. Invesco Ltd. now owns 363,508 shares of the construction company's stock worth $84,712,000 after purchasing an additional 15,899 shares in the last quarter. 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, 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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