Eagle Materials (NYSE:EXP) Upgraded by Wells Fargo & Company to "Strong-Buy" Rating

Key Points

• Eagle Materials has been upgraded to a "strong-buy" rating by Wells Fargo & Company, indicating a positive outlook from analysts.
• The stock currently has a consensus rating of "Hold" with a target price of $255.40, despite various brokerage opinions including upgrades and holds.
• For the most recent quarter, Eagle Materials reported earnings of $3.76 per share, exceeding analyst expectations and achieving a revenue of $634.69 million.

Eagle Materials (NYSE:EXP - Get Free Report) was upgraded by equities researchers at Wells Fargo & Company to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on EXP. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Eagle Materials from $220.00 to $245.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Loop Capital lifted their price target on shares of Eagle Materials from $230.00 to $245.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Eagle Materials in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $255.40.

Eagle Materials Stock Down 1.9%

NYSE:EXP opened at $234.06 on Wednesday. The firm has a market cap of $7.60 billion, a P/E ratio of 17.24 and a beta of 1.31. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. Eagle Materials has a fifty-two week low of $191.91 and a fifty-two week high of $321.93. The firm has a 50-day simple moving average of $231.46 and a two-hundred day simple moving average of $221.72.

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

Hedge Funds Weigh In On Eagle Materials

Several hedge funds have recently modified their holdings of the stock. Transce3nd LLC lifted its holdings in shares of Eagle Materials by 9.7% in the first quarter. Transce3nd LLC now owns 552 shares of the construction company's stock worth $122,000 after buying an additional 49 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in shares of Eagle Materials by 2.0% in the second quarter. Sheets Smith Wealth Management now owns 2,750 shares of the construction company's stock worth $556,000 after buying an additional 54 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Eagle Materials by 3.9% in the second quarter. ProShare Advisors LLC now owns 1,474 shares of the construction company's stock worth $298,000 after buying an additional 56 shares in the last quarter. Blue Trust Inc. increased its position in Eagle Materials by 5.2% in the second quarter. Blue Trust Inc. now owns 1,146 shares of the construction company's stock worth $232,000 after purchasing an additional 57 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in Eagle Materials by 6.1% in the second quarter. Fulton Bank N.A. now owns 1,084 shares of the construction company's stock worth $219,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other 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.

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