Eagle Materials (NYSE:EXP) Lifted to “Neutral” at Northcoast Research

Northcoast Research upgraded shares of Eagle Materials (NYSE:EXP) from a sell rating to a neutral rating in a research note released on Friday morning, BenzingaRatingsTable reports.

Several other research analysts have also recently issued reports on EXP. Zacks Investment Research cut shares of Eagle Materials from a buy rating to a hold rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their target price on shares of Eagle Materials from $95.00 to $85.00 and set a neutral rating for the company in a report on Thursday, September 5th. SunTrust Banks set a $95.00 target price on shares of Eagle Materials and gave the stock a buy rating in a report on Wednesday, July 31st. Stifel Nicolaus set a $101.00 target price on shares of Eagle Materials and gave the stock a buy rating in a report on Wednesday, July 31st. Finally, Raymond James cut shares of Eagle Materials from an outperform rating to a market perform rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $93.88.

NYSE EXP opened at $90.77 on Friday. The company has a fifty day simple moving average of $83.93 and a two-hundred day simple moving average of $85.26. The stock has a market cap of $3.81 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.74 and a beta of 1.23. Eagle Materials has a 12-month low of $57.00 and a 12-month high of $93.18. The company has a current ratio of 2.42, a quick ratio of 1.05 and a debt-to-equity ratio of 0.85.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($0.27). Eagle Materials had a return on equity of 17.21% and a net margin of 3.20%. The company had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same period in the prior year, the business posted $1.38 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that Eagle Materials will post 5.22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.92%.

In other Eagle Materials news, Director David B. Powers sold 20,000 shares of Eagle Materials stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the completion of the transaction, the director now owns 86,840 shares of the company’s stock, valued at $7,381,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Keith W. Metcalf sold 10,980 shares of Eagle Materials stock in a transaction on Monday, August 5th. The shares were sold at an average price of $81.33, for a total transaction of $893,003.40. Following the completion of the transaction, the insider now directly owns 58,087 shares of the company’s stock, valued at approximately $4,724,215.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,794 shares of company stock valued at $4,724,987. 2.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Eagle Materials by 69.9% in the first quarter. FMR LLC now owns 3,445,277 shares of the construction company’s stock valued at $290,437,000 after buying an additional 1,418,021 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Eagle Materials by 2.7% in the second quarter. Wells Fargo & Company MN now owns 2,728,089 shares of the construction company’s stock valued at $252,894,000 after buying an additional 70,811 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Eagle Materials by 2.4% in the first quarter. Neuberger Berman Group LLC now owns 2,032,563 shares of the construction company’s stock valued at $171,345,000 after buying an additional 47,778 shares in the last quarter. Long Pond Capital LP increased its holdings in Eagle Materials by 10.2% in the second quarter. Long Pond Capital LP now owns 594,935 shares of the construction company’s stock valued at $55,150,000 after buying an additional 55,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Eagle Materials by 29.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 554,925 shares of the construction company’s stock valued at $51,442,000 after buying an additional 125,524 shares in the last quarter. 97.87% of the stock is owned by institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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Analyst Recommendations for Eagle Materials (NYSE:EXP)

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