Eagle Materials (NYSE:EXP) Price Target Raised to $273.00

Eagle Materials (NYSE:EXP) had its price target lifted by equities research analysts at The Goldman Sachs Group from $238.00 to $273.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 9.55% from the stock’s previous close.

A number of other research analysts have also recently weighed in on EXP. Loop Capital raised shares of Eagle Materials from a “hold” rating to a “buy” rating and raised their price objective for the stock from $170.00 to $240.00 in a research note on Monday, January 8th. StockNews.com cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Raymond James raised their price objective on shares of Eagle Materials from $170.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Stifel Nicolaus raised their price objective on shares of Eagle Materials from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Eagle Materials currently has an average rating of “Moderate Buy” and a consensus price target of $257.00.

Eagle Materials Stock Performance

NYSE EXP traded down $0.75 during trading hours on Tuesday, hitting $249.21. 27,195 shares of the stock were exchanged, compared to its average volume of 293,123. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 17.57 and a beta of 1.34. Eagle Materials has a 12-month low of $142.12 and a 12-month high of $272.72. The stock has a 50-day moving average of $254.82 and a 200 day moving average of $210.04. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Thursday, January 25th. The construction company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.16. Eagle Materials had a net margin of 22.24% and a return on equity of 40.05%. The firm had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $537.23 million. As a group, equities research analysts forecast that Eagle Materials will post 14.29 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP William R. Devlin sold 2,354 shares of Eagle Materials stock in a transaction on Friday, January 26th. The shares were sold at an average price of $214.95, for a total transaction of $505,992.30. Following the sale, the senior vice president now owns 24,998 shares of the company’s stock, valued at approximately $5,373,320.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Eric Cribbs sold 2,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $214.66, for a total value of $429,320.00. Following the completion of the sale, the insider now owns 15,654 shares of the company’s stock, valued at approximately $3,360,287.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William R. Devlin sold 2,354 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $214.95, for a total transaction of $505,992.30. Following the completion of the sale, the senior vice president now directly owns 24,998 shares of the company’s stock, valued at approximately $5,373,320.10. The disclosure for this sale can be found here. Insiders have sold 19,444 shares of company stock valued at $4,414,889 in the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC acquired a new position in shares of Eagle Materials in the 3rd quarter valued at about $25,000. Dark Forest Capital Management LP acquired a new position in Eagle Materials during the 1st quarter valued at about $26,000. Tompkins Financial Corp acquired a new position in Eagle Materials during the 1st quarter valued at about $27,000. Rise Advisors LLC acquired a new position in Eagle Materials during the 1st quarter valued at about $27,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in Eagle Materials during the 4th quarter valued at about $30,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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; 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.