Eagle Materials Inc. (NYSE:EXP) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,370,000 shares, a growth of 24.5% from the March 31st total of 1,100,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 356,500 shares, the days-to-cover ratio is presently 3.8 days.
A number of analysts have recently weighed in on EXP shares. Raymond James increased their price objective on shares of Eagle Materials from $130.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday. Truist lifted their price objective on Eagle Materials from $135.00 to $160.00 in a research note on Wednesday, March 31st. JPMorgan Chase & Co. upped their target price on Eagle Materials from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, January 22nd. TheStreet upgraded Eagle Materials from a “c+” rating to a “b” rating in a research report on Wednesday, January 6th. Finally, Zacks Investment Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, April 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $119.00.
In other news, Director David B. Powers sold 29,647 shares of the stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $117.11, for a total value of $3,471,960.17. Following the transaction, the director now directly owns 65,499 shares of the company’s stock, valued at $7,670,587.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Haack sold 9,907 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $137.78, for a total value of $1,364,986.46. Following the completion of the transaction, the chief executive officer now owns 57,141 shares of the company’s stock, valued at $7,872,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 144,093 shares of company stock worth $17,242,848 in the last 90 days. 2.30% of the stock is currently owned by company insiders.
Shares of Eagle Materials stock traded up $1.85 on Tuesday, reaching $142.09. The company’s stock had a trading volume of 393,555 shares, compared to its average volume of 356,453. The company has a quick ratio of 2.58, a current ratio of 3.98 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $5.97 billion, a P/E ratio of 39.58 and a beta of 1.30. The stock has a 50-day moving average price of $136.77 and a 200-day moving average price of $113.47. Eagle Materials has a 52-week low of $48.56 and a 52-week high of $145.00.
About Eagle Materials
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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