Eagle Materials (NYSE:EXP) Earns “Underweight” Rating from JPMorgan Chase & Co.

Eagle Materials (NYSE:EXP)‘s stock had its “underweight” rating reissued by JPMorgan Chase & Co. in a report released on Monday,Benzinga reports. They currently have a $215.00 price target on the construction company’s stock, down from their prior price target of $230.00. JPMorgan Chase & Co.‘s price target points to a potential downside of 8.50% from the stock’s previous close.

A number of other brokerages also recently commented on EXP. Stephens restated an “equal weight” rating and set a $245.00 price objective on shares of Eagle Materials in a research report on Tuesday, January 20th. Wall Street Zen cut Eagle Materials from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. DA Davidson lowered their price objective on Eagle Materials from $225.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Truist Financial reissued a “hold” rating and set a $210.00 target price (down previously from $280.00) on shares of Eagle Materials in a research note on Friday, December 19th. Finally, Wells Fargo & Company decreased their price target on Eagle Materials from $251.00 to $241.00 and set an “overweight” rating on the stock in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $230.40.

Eagle Materials Stock Up 1.0%

NYSE:EXP opened at $234.97 on Monday. Eagle Materials has a 1-year low of $191.91 and a 1-year high of $258.86. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.27 and a quick ratio of 2.68. The firm has a market capitalization of $7.39 billion, a P/E ratio of 17.79 and a beta of 1.38. The company’s fifty day moving average price is $221.58 and its 200-day moving average price is $224.47.

Eagle Materials (NYSE:EXP) last posted its earnings results on Thursday, January 29th. The construction company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.32 by ($0.10). The firm had revenue of $555.96 million for the quarter, compared to analysts’ expectations of $556.41 million. Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. Eagle Materials’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $3.59 earnings per share. As a group, equities research analysts anticipate that Eagle Materials will post 14.39 EPS for the current year.

Institutional Investors Weigh In On Eagle Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harber Asset Management LLC grew its stake in Eagle Materials by 9.3% during the 4th quarter. Harber Asset Management LLC now owns 20,493 shares of the construction company’s stock worth $4,235,000 after buying an additional 1,739 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of Eagle Materials by 7.8% in the fourth quarter. Kennedy Capital Management LLC now owns 117,442 shares of the construction company’s stock valued at $24,273,000 after acquiring an additional 8,534 shares during the period. Entropy Technologies LP boosted its holdings in shares of Eagle Materials by 25.7% in the fourth quarter. Entropy Technologies LP now owns 10,257 shares of the construction company’s stock valued at $2,120,000 after acquiring an additional 2,096 shares during the period. Baupost Group LLC MA grew its position 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. Finally, Black Creek Investment Management Inc. acquired a new position in shares of Eagle Materials in the 4th quarter valued at $103,778,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

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.