Royal Bank Of Canada Initiates Coverage on Eagle Materials (NYSE:EXP)

Equities researchers at Royal Bank Of Canada assumed coverage on shares of Eagle Materials (NYSE:EXP) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “sector perform” rating and a $208.00 price target on the construction company’s stock. Royal Bank Of Canada’s price objective indicates a potential downside of 6.28% from the company’s previous close.

Several other research firms have also commented on EXP. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $215.00 price target (down from $230.00) on shares of Eagle Materials in a research report on Monday, February 16th. Truist Financial restated a “hold” rating and issued a $210.00 target price (down from $280.00) on shares of Eagle Materials in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Eagle Materials in a report on Monday, December 29th. Citigroup lowered their price objective on shares of Eagle Materials from $232.00 to $224.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $245.00 target price on shares of Eagle Materials in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $228.36.

Eagle Materials Trading Down 4.2%

Shares of EXP stock opened at $221.94 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. Eagle Materials has a twelve month low of $191.91 and a twelve month high of $243.64. The company’s 50-day moving average price is $222.90 and its 200-day moving average price is $224.88. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 16.80 and a beta of 1.38.

Eagle Materials (NYSE:EXP) last issued its earnings results on Thursday, January 29th. The construction company reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.10). The firm had revenue of $555.96 million for the quarter, compared to analysts’ expectations of $556.41 million. Eagle Materials had a return on equity of 28.96% and a net margin of 18.70%.Eagle Materials’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $3.59 earnings per share. As a group, equities analysts predict that Eagle Materials will post 14.39 earnings per share for the current year.

Hedge Funds Weigh In On Eagle Materials

Several institutional investors and hedge funds have recently made changes to their positions in the business. Black Creek Investment Management Inc. bought a new stake in shares of Eagle Materials in the fourth quarter worth $103,778,000. Norges Bank acquired a new position in Eagle Materials during the 4th quarter worth $90,147,000. Baupost Group LLC MA increased its position in shares of Eagle Materials by 39.0% in the 3rd quarter. Baupost Group LLC MA now owns 939,660 shares of the construction company’s stock worth $218,978,000 after purchasing an additional 263,403 shares during the last quarter. Earnest Partners LLC acquired a new stake in shares of Eagle Materials in the 4th quarter valued at about $52,674,000. Finally, American Century Companies Inc. lifted its position in shares of Eagle Materials by 80.9% during the second quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock worth $105,356,000 after purchasing an additional 233,153 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE:EXP) is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company’s primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.