Citigroup Issues Pessimistic Forecast for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its price objective reduced by stock analysts at Citigroup from $255.00 to $233.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 9.70% from the stock’s previous close.

EXP has been the subject of several other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eagle Materials in a report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Eagle Materials to a “strong-buy” rating in a research report on Wednesday, October 8th. Stifel Nicolaus set a $246.00 target price on Eagle Materials in a report on Monday, October 27th. DA Davidson decreased their target price on Eagle Materials from $245.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Eagle Materials from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $253.20.

Eagle Materials Trading Down 1.0%

NYSE:EXP opened at $212.40 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 15.64 and a beta of 1.31. The business’s 50-day simple moving average is $232.61 and its 200 day simple moving average is $222.85. Eagle Materials has a one year low of $191.91 and a one year high of $321.93.

Eagle Materials (NYSE:EXP) last announced its earnings results on Thursday, October 30th. The construction company reported $4.23 EPS 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 company had revenue of $638.91 million for the quarter, compared to analysts’ expectations of $635.55 million. During the same period in the prior year, the company earned $4.31 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts predict that Eagle Materials will post 14.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eagle Materials

A number of hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Eagle Materials by 130.9% in the third quarter. Versant Capital Management Inc now owns 127 shares of the construction company’s stock worth $30,000 after buying an additional 72 shares during the last quarter. Hantz Financial Services Inc. grew its position in Eagle Materials by 7,750.0% during the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock worth $32,000 after buying an additional 155 shares in the last quarter. MAI Capital Management grew its holdings in shares of Eagle Materials by 3,060.0% during the 2nd quarter. MAI Capital Management now owns 158 shares of the construction company’s stock worth $32,000 after purchasing an additional 153 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Eagle Materials by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after buying an additional 87 shares during the period. Finally, SVB Wealth LLC bought a new stake in Eagle Materials in the first quarter valued at about $41,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Eagle Materials

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.