DA Davidson Lowers Eagle Materials (NYSE:EXP) Price Target to $260.00

Eagle Materials (NYSE:EXP) had its target price lowered by investment analysts at DA Davidson from $265.00 to $260.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. DA Davidson’s target price would indicate a potential upside of 1.78% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group raised their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research report on Monday, November 25th. Truist Financial lifted their target price on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating and lowered their target price for the company from $334.00 to $280.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group cut shares of Eagle Materials from a “buy” rating to a “hold” rating and reduced their price objective for the company from $330.00 to $310.00 in a research note on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eagle Materials presently has an average rating of “Hold” and an average price target of $296.80.

Eagle Materials Price Performance

NYSE EXP traded up $1.71 during trading hours on Thursday, hitting $255.47. 45,863 shares of the company’s stock traded hands, compared to its average volume of 294,222. The firm’s 50-day moving average is $266.95 and its 200-day moving average is $269.75. Eagle Materials has a 52-week low of $211.44 and a 52-week high of $321.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The company has a market capitalization of $8.57 billion, a PE ratio of 18.04 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. Equities analysts forecast that Eagle Materials will post 15.11 EPS for the current fiscal year.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the completion of the sale, the director now directly owns 1,100 shares in the company, valued at $330,330. The trade was a 76.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the sale, the chief executive officer now owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,866 shares of company stock worth $5,205,311. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Eagle Materials in the third quarter valued at $64,000. R Squared Ltd acquired a new stake in Eagle Materials in the fourth quarter valued at $81,000. Quent Capital LLC raised its holdings in Eagle Materials by 155.3% in the third quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock valued at $125,000 after acquiring an additional 264 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Eagle Materials by 29.7% during the third quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock worth $176,000 after purchasing an additional 140 shares during the period. Finally, Central Pacific Bank Trust Division raised its holdings in shares of Eagle Materials by 23.5% during the third quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock worth $181,000 after purchasing an additional 120 shares during the period. 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.