Wells Fargo & Company Has Lowered Expectations for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its price target lowered by analysts at Wells Fargo & Company from $261.00 to $251.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 18.17% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eagle Materials in a report on Wednesday, October 8th. DA Davidson reduced their target price on Eagle Materials from $245.00 to $225.00 and set a “neutral” rating for the company in a report on Friday. Stifel Nicolaus set a $246.00 target price on Eagle Materials in a report on Monday, October 27th. Wall Street Zen raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Citigroup reduced their target price on Eagle Materials from $255.00 to $233.00 and set a “neutral” rating for the company in a report on Friday. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and a consensus target price of $253.20.

Eagle Materials Stock Performance

NYSE EXP opened at $212.40 on Friday. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 15.64 and a beta of 1.31. Eagle Materials has a twelve month low of $191.91 and a twelve month high of $321.93. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $232.61 and a 200 day moving average of $222.85.

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

Institutional Investors Weigh In On Eagle Materials

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew 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 valued at $30,000 after purchasing an additional 72 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of Eagle Materials by 7,750.0% in the second quarter. Hantz Financial Services Inc. now owns 157 shares of the construction company’s stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. MAI Capital Management grew its position in shares of Eagle Materials by 3,060.0% in the second quarter. MAI Capital Management now owns 158 shares of the construction company’s stock valued at $32,000 after purchasing an additional 153 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock valued at $35,000 after purchasing an additional 87 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in Eagle Materials in the first quarter worth approximately $41,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.