Citigroup Downgrades Eagle Materials (NYSE:EXP) to Neutral

Eagle Materials (NYSE:EXP) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $280.00 price objective on the construction company’s stock, down from their prior price objective of $334.00. Citigroup’s price objective indicates a potential upside of 17.04% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Truist Financial lifted their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday, November 25th. The Goldman Sachs Group lifted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and cut their target price for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. raised their price target on Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $301.44.

Eagle Materials Stock Down 2.0 %

Shares of NYSE EXP opened at $239.23 on Monday. Eagle Materials has a 12-month low of $197.58 and a 12-month high of $321.93. The stock has a market cap of $8.02 billion, a P/E ratio of 16.89 and a beta of 1.37. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The business’s fifty day simple moving average is $282.89 and its 200-day simple moving average is $266.24.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The firm had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. During the same quarter in the previous year, the company posted $4.28 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Eagle Materials will post 15.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Haack sold 11,888 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the completion of the transaction, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. This represents a 12.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the sale, the senior vice president now owns 13,212 shares in the company, valued at approximately $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock valued at $5,205,311 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Eagle Materials

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its holdings in Eagle Materials by 3.7% in the third quarter. CIBC Asset Management Inc now owns 1,032 shares of the construction company’s stock valued at $297,000 after buying an additional 37 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Eagle Materials by 1.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company’s stock worth $858,000 after purchasing an additional 41 shares during the last quarter. Financial Strategies Group Inc. boosted its position in Eagle Materials by 4.4% during the third quarter. Financial Strategies Group Inc. now owns 1,022 shares of the construction company’s stock worth $304,000 after purchasing an additional 43 shares in the last quarter. Arizona State Retirement System grew its holdings in Eagle Materials by 0.6% in the second quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock valued at $2,097,000 after purchasing an additional 56 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Eagle Materials by 1.5% during the 3rd quarter. National Bank of Canada FI now owns 3,872 shares of the construction company’s stock valued at $1,114,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.