JPMorgan Chase & Co. Lowers Eagle Materials (NYSE:EXP) Price Target to $230.00

Eagle Materials (NYSE:EXP) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $245.00 to $230.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.54% from the company’s current price.

EXP has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eagle Materials in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Jefferies Financial Group reiterated a “hold” rating and issued a $226.00 price objective on shares of Eagle Materials in a report on Monday, November 3rd. Stifel Nicolaus set a $246.00 target price on Eagle Materials in a report on Monday, October 27th. Finally, Wells Fargo & Company cut their target price on Eagle Materials from $261.00 to $251.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $243.30.

Eagle Materials Stock Performance

Shares of NYSE EXP traded up $3.13 during midday trading on Tuesday, hitting $209.98. 71,361 shares of the company’s stock were exchanged, compared to its average volume of 391,074. Eagle Materials has a twelve month low of $191.91 and a twelve month high of $321.93. The firm has a market cap of $6.73 billion, a P/E ratio of 15.37 and a beta of 1.31. The stock’s 50 day moving average price is $229.37 and its 200-day moving average price is $222.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26.

Eagle Materials (NYSE:EXP) last announced its earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.12). Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The business had revenue of $638.91 million for the quarter, compared to the consensus estimate of $635.55 million. During the same period in the previous year, the firm earned $4.31 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Eagle Materials will post 14.39 EPS for the current year.

Insider Activity

In related news, Director David E. Rush acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price of $208.08 per share, for a total transaction of $208,080.00. Following the transaction, the director owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. The trade was a 31.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC raised its stake in Eagle Materials by 1.5% during the 3rd quarter. Park Avenue Securities LLC now owns 2,962 shares of the construction company’s stock worth $690,000 after buying an additional 45 shares during the period. Transce3nd LLC increased 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 acquiring an additional 49 shares in the last quarter. Sheets Smith Wealth Management raised 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 purchasing an additional 49 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Eagle Materials by 20.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 326 shares of the construction company’s stock valued at $76,000 after purchasing an additional 55 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Eagle Materials by 3.9% in the 2nd quarter. ProShare Advisors LLC now owns 1,474 shares of the construction company’s stock valued at $298,000 after purchasing an additional 56 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Eagle Materials Company Profile

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.