The Goldman Sachs Group Trims Eagle Materials (NYSE:EXP) Target Price to $162.00

Eagle Materials (NYSE:EXPGet Rating) had its price target cut by equities research analysts at The Goldman Sachs Group from $190.00 to $162.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 32.08% from the stock’s previous close.

A number of other brokerages also recently issued reports on EXP. Loop Capital lowered their price target on Eagle Materials from $170.00 to $155.00 in a report on Friday, January 28th. DA Davidson lowered their price target on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday. StockNews.com began coverage on Eagle Materials in a report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup lowered their price target on Eagle Materials from $194.00 to $175.00 in a report on Friday, January 28th. Finally, Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $166.36.

Eagle Materials stock traded down $3.57 during mid-day trading on Friday, hitting $122.65. The company had a trading volume of 3,155 shares, compared to its average volume of 333,507. The company has a current ratio of 2.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $126.55 and its two-hundred day moving average price is $143.57. Eagle Materials has a 12 month low of $114.55 and a 12 month high of $169.15. The company has a market capitalization of $4.85 billion, a PE ratio of 13.96 and a beta of 1.24.

Eagle Materials (NYSE:EXPGet Rating) last released its earnings results on Thursday, May 19th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.73 by $0.17. The business had revenue of $413.10 million for the quarter, compared to the consensus estimate of $400.68 million. Eagle Materials had a return on equity of 28.58% and a net margin of 20.42%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. Equities research analysts anticipate that Eagle Materials will post 9.31 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of EXP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $249,701,000. JPMorgan Chase & Co. grew its position in shares of Eagle Materials by 453.5% during the fourth quarter. JPMorgan Chase & Co. now owns 540,436 shares of the construction company’s stock worth $89,961,000 after purchasing an additional 442,802 shares in the last quarter. Norges Bank purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $65,760,000. Prudential Financial Inc. grew its position in shares of Eagle Materials by 180.3% during the first quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company’s stock worth $60,390,000 after purchasing an additional 302,625 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Eagle Materials by 61.5% during the first quarter. Victory Capital Management Inc. now owns 625,280 shares of the construction company’s stock worth $78,442,000 after purchasing an additional 238,048 shares in the last quarter. 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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