Loop Capital Increases Eagle Materials (NYSE:EXP) Price Target to $245.00

Key Points

• Loop Capital raised its price target for Eagle Materials from $230.00 to $245.00, indicating a potential upside of 5.83%.
• Other analysts have mixed ratings; Goldman Sachs set a target price of $242.00 with a "buy" rating, while others downgraded the stock to "sell" or maintained a "hold" rating.
• Eagle Materials reported a miss in earnings for the previous quarter, with EPS of $2.08 against an expected $2.34, alongside a revenue decline of 1.4% year-over-year.

Eagle Materials (NYSE:EXP - Free Report) had its price objective boosted by Loop Capital from $230.00 to $245.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the construction company's stock.

Several other research firms have also issued reports on EXP. 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. The Goldman Sachs Group set a $242.00 price objective on shares of Eagle Materials and gave the stock a "buy" rating in a report on Wednesday, May 21st. Stephens set a $255.00 price objective on shares of Eagle Materials and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Citigroup decreased their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the stock a "hold" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. 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 Stock Down 1.8%

Eagle Materials stock traded down $4.10 during trading hours on Wednesday, hitting $220.19. 98,647 shares of the stock traded hands, compared to its average volume of 403,828. The firm's 50-day moving average price is $209.71 and its two-hundred day moving average price is $224.13. The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.93. The company has a market cap of $7.18 billion, a PE ratio of 16.22 and a beta of 1.26. Eagle Materials has a one year low of $191.91 and a one year high of $321.93.

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

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Monday, June 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 16th. Eagle Materials's dividend payout ratio is presently 7.27%.

Institutional Investors Weigh In On Eagle Materials

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Eagle Materials during the 4th quarter valued at about $93,672,000. JPMorgan Chase & Co. lifted its stake in Eagle Materials by 18.8% in the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company's stock worth $475,068,000 after purchasing an additional 339,089 shares during the last quarter. Baupost Group LLC MA lifted its stake in Eagle Materials by 42.5% in the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company's stock worth $201,875,000 after purchasing an additional 271,410 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Eagle Materials by 57.2% during the second quarter. William Blair Investment Management LLC now owns 611,745 shares of the construction company's stock valued at $123,640,000 after acquiring an additional 222,537 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Eagle Materials by 198.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 306,990 shares of the construction company's stock valued at $62,046,000 after acquiring an additional 204,060 shares in 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.