Eagle Materials (NYSE:EXP) Stock Rating Upgraded by Wall Street Zen

Key Points

• Analysts at Wall Street Zen upgraded Eagle Materials from a "sell" rating to a "hold" rating, reflecting a more positive outlook for the company.
• The stock currently has a consensus price target of $255.33, with various research firms setting differing targets and ratings ranging from "buy" to "hold."
• Institutional investors have shown significant interest, with 96.07% of the stock owned by hedge funds and other institutions, indicating strong support for the company's shares.

Eagle Materials (NYSE:EXP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other research firms also recently issued reports on EXP. The Goldman Sachs Group set a $242.00 price target on shares of Eagle Materials and gave the company a "buy" rating in a research note on Wednesday, May 21st. Stephens set a $255.00 target price on shares of Eagle Materials and gave the company an "overweight" rating in a report on Thursday, May 22nd. Stifel Nicolaus set a $241.00 target price on Eagle Materials and gave the company a "hold" rating in a research report on Wednesday, May 21st. Truist Financial lowered their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, DA Davidson cut their price objective on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $255.33.

Eagle Materials Trading Down 1.8%

Shares of Eagle Materials stock opened at $220.33 on Friday. The stock has a 50 day moving average of $209.82 and a 200 day moving average of $223.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.03 and a current ratio of 2.73. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 16.22 and a beta of 1.24. Eagle Materials has a fifty-two week low of $191.91 and a fifty-two week high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.03. The business had revenue of $634.69 million during the quarter, compared to analysts' expectations of $611.52 million. Eagle Materials had a return on equity of 31.21% and a net margin of 19.81%. As a group, research analysts predict that Eagle Materials will post 14.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EXP. JPMorgan Chase & Co. raised its position in Eagle Materials by 18.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company's stock valued at $475,068,000 after purchasing an additional 339,089 shares in the last quarter. Baupost Group LLC MA increased its stake in shares of Eagle Materials by 42.5% during the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company's stock worth $201,875,000 after buying an additional 271,410 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Eagle Materials by 4.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 734,541 shares of the construction company's stock worth $153,607,000 after acquiring an additional 28,559 shares during the last quarter. Geode Capital Management LLC grew its holdings in Eagle Materials by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 722,995 shares of the construction company's stock worth $178,450,000 after acquiring an additional 15,388 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of Eagle Materials by 57.2% in the 2nd quarter. William Blair Investment Management LLC now owns 611,745 shares of the construction company's stock valued at $123,640,000 after purchasing an additional 222,537 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.