Eagle Materials (NYSE:EXP) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Eagle Materials (NYSE:EXPGet Rating) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Eagle Materials Inc. manufactures and distributes Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants from more than 75 facilities across the US. The Company’s Cement and Concrete and Aggregates segments participate in the construction products sector; Gypsum Wallboard and Recycled Paperboard segments participate in the building materials sector; and Oil and Gas Proppants segment participates in the oil and gas exploration sector. Eagle Materials manufactures and distributes concrete and aggregates products that are used in highway construction and maintenance and to construct residential and commercial buildings. Eagle operates aggregates quarries and concrete plants in central Texas, northern California, Kansas and Missouri. Eagle Materials is committed to building a low delivered-cost Northern white sand supply system for the energy sector. “

EXP has been the topic of a number of other reports. DA Davidson decreased their price target on Eagle Materials from $170.00 to $160.00 in a report on Friday, January 28th. Citigroup decreased their price target on Eagle Materials from $194.00 to $175.00 in a report on Friday, January 28th. The Goldman Sachs Group raised their price target on Eagle Materials from $181.00 to $190.00 in a report on Thursday, January 27th. StockNews.com started coverage on Eagle Materials in a report on Thursday, March 31st. They set a hold rating on the stock. Finally, Northcoast Research upgraded Eagle Materials from a neutral rating to a buy rating and set a $193.00 target price on the stock in a research report on Monday, January 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $170.25.

NYSE:EXP opened at $129.10 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 2.14 and a debt-to-equity ratio of 0.69. The business’s 50-day simple moving average is $128.61 and its two-hundred day simple moving average is $145.05. The stock has a market cap of $5.10 billion, a PE ratio of 14.67 and a beta of 1.24. Eagle Materials has a 52 week low of $118.67 and a 52 week high of $169.15.

The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Friday, March 18th were given a $0.25 dividend. The ex-dividend date was Thursday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.77%. Eagle Materials’s dividend payout ratio is currently 11.36%.

Hedge funds have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in Eagle Materials during the fourth quarter valued at approximately $26,000. Wolff Wiese Magana LLC purchased a new stake in Eagle Materials during the fourth quarter valued at approximately $29,000. CWM LLC purchased a new stake in Eagle Materials during the fourth quarter valued at approximately $34,000. NEXT Financial Group Inc raised its position in Eagle Materials by 811.8% during the fourth quarter. NEXT Financial Group Inc now owns 310 shares of the construction company’s stock valued at $51,000 after purchasing an additional 276 shares during the period. Finally, PFG Private Wealth Management LLC purchased a new stake in Eagle Materials during the fourth quarter valued at approximately $95,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

About Eagle Materials (Get Rating)

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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