Eagle Materials (NYSE:EXP) Given New $224.00 Price Target at Citigroup

Eagle Materials (NYSE:EXP) had its price target trimmed by Citigroup from $232.00 to $224.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

EXP has been the subject of several other research reports. Jefferies Financial Group restated a “hold” rating and issued a $226.00 price target on shares of Eagle Materials in a research note on Monday, November 3rd. Wall Street Zen lowered Eagle Materials from a “hold” rating to a “sell” rating in a research report on Saturday. Stephens reaffirmed an “equal weight” rating and set a $245.00 price target on shares of Eagle Materials in a report on Tuesday, January 20th. Truist Financial reissued a “hold” rating and set a $210.00 price objective (down from $280.00) on shares of Eagle Materials in a report on Friday, December 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Eagle Materials from $245.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Eagle Materials currently has an average rating of “Hold” and a consensus target price of $231.90.

Eagle Materials Stock Up 4.7%

Shares of Eagle Materials stock opened at $219.28 on Tuesday. The company has a 50-day simple moving average of $220.46 and a two-hundred day simple moving average of $224.08. The stock has a market capitalization of $6.89 billion, a PE ratio of 16.60 and a beta of 1.38. Eagle Materials has a 52-week low of $191.91 and a 52-week high of $262.81. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 4.27.

Eagle Materials (NYSE:EXP) last posted its quarterly 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). Eagle Materials had a net margin of 18.70% and a return on equity of 28.96%. The firm had revenue of $555.96 million for the quarter, compared to analysts’ expectations of $556.41 million. During the same quarter in the previous year, the company earned $3.59 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts anticipate that Eagle Materials will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 15th. Eagle Materials’s payout ratio is currently 7.57%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EXP. Focus Partners Wealth increased its holdings in Eagle Materials by 21.5% in the 1st quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock valued at $448,000 after acquiring an additional 357 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Eagle Materials by 15.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,772 shares of the construction company’s stock valued at $379,000 after buying an additional 232 shares during the last quarter. HB Wealth Management LLC grew its holdings in Eagle Materials by 19.4% during the 2nd quarter. HB Wealth Management LLC now owns 1,118 shares of the construction company’s stock valued at $226,000 after buying an additional 182 shares in the last quarter. QRG Capital Management Inc. increased its stake in Eagle Materials by 6.3% in the 2nd quarter. QRG Capital Management Inc. now owns 1,150 shares of the construction company’s stock worth $232,000 after acquiring an additional 68 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Eagle Materials by 4.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,800 shares of the construction company’s stock worth $1,376,000 after acquiring an additional 300 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

About Eagle Materials

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.