Eagle Materials (NYSE:EXP) Rating Increased to Hold at Zacks Research

Eagle Materials (NYSE:EXP) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on EXP. DA Davidson lowered their price objective on Eagle Materials from $225.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Truist Financial reissued a “hold” rating and issued a $210.00 target price (down from $280.00) on shares of Eagle Materials in a report on Friday, December 19th. Wells Fargo & Company decreased their target price on shares of Eagle Materials from $251.00 to $241.00 and set an “overweight” rating on the stock in a research note on Thursday, January 29th. Citigroup dropped their price target on shares of Eagle Materials from $232.00 to $224.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $228.36.

Eagle Materials Price Performance

Shares of Eagle Materials stock opened at $183.07 on Monday. The stock has a market cap of $5.75 billion, a P/E ratio of 13.86 and a beta of 1.35. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27. The stock’s fifty day moving average is $214.76 and its 200 day moving average is $219.98. Eagle Materials has a one year low of $171.99 and a one year high of $243.64.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXP. Park Avenue Securities LLC raised its position in shares of Eagle Materials by 1.5% during the third quarter. Park Avenue Securities LLC now owns 2,962 shares of the construction company’s stock valued at $690,000 after buying an additional 45 shares during the last quarter. Sheets Smith Wealth Management boosted its position in shares of Eagle Materials by 1.8% during the third quarter. Sheets Smith Wealth Management now owns 2,799 shares of the construction company’s stock worth $652,000 after acquiring an additional 49 shares during the last quarter. Caisse de depot et placement du Quebec grew its stake in Eagle Materials by 3.6% during the third quarter. Caisse de depot et placement du Quebec now owns 1,426 shares of the construction company’s stock valued at $332,000 after acquiring an additional 50 shares in the last quarter. Signaturefd LLC grew its stake in Eagle Materials by 15.8% during the fourth quarter. Signaturefd LLC now owns 389 shares of the construction company’s stock valued at $80,000 after acquiring an additional 53 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Eagle Materials by 20.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 326 shares of the construction company’s stock valued at $76,000 after acquiring an additional 55 shares during the last quarter. 96.07% of the stock is currently owned by 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.