Wells Fargo & Company Has Lowered Expectations for Eagle Materials (NYSE:EXP) Stock Price

Eagle Materials (NYSE:EXP) had its price target dropped by research analysts at Wells Fargo & Company from $240.00 to $231.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 12.44% from the company’s current price.

Other equities analysts have also issued reports about the stock. Zacks Research lowered shares of Eagle Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Jefferies Financial Group restated a “hold” rating and issued a $200.00 price target on shares of Eagle Materials in a research note on Wednesday, May 20th. JPMorgan Chase & Co. raised Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Tuesday, June 2nd. Citigroup lifted their price objective on Eagle Materials from $217.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Stephens boosted their target price on Eagle Materials from $225.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $223.44.

Eagle Materials Stock Performance

Shares of EXP stock opened at $205.45 on Thursday. The company’s fifty day moving average price is $215.16 and its 200-day moving average price is $210.77. The stock has a market cap of $6.35 billion, a PE ratio of 16.24 and a beta of 1.37. The company has a current ratio of 3.23, a quick ratio of 2.09 and a debt-to-equity ratio of 1.17. Eagle Materials has a 12 month low of $171.99 and a 12 month high of $245.53.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The business had revenue of $650.97 million during the quarter, compared to the consensus estimate of $620.35 million. During the same quarter in the previous year, the business earned $3.76 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Eagle Materials will post 12.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Eagle Materials by 9.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,015 shares of the construction company’s stock worth $228,000 after purchasing an additional 84 shares during the period. Hilltop National Bank boosted its stake in shares of Eagle Materials by 38.3% in the 2nd quarter. Hilltop National Bank now owns 589 shares of the construction company’s stock worth $133,000 after buying an additional 163 shares during the last quarter. Redwood Investment Management LLC purchased a new position in shares of Eagle Materials in the 1st quarter worth $1,080,000. NewEdge Advisors LLC grew its holdings in shares of Eagle Materials by 4.6% in the first quarter. NewEdge Advisors LLC now owns 3,804 shares of the construction company’s stock worth $721,000 after acquiring an additional 166 shares during the period. Finally, Glenmede Trust Co. NA bought a new stake in shares of Eagle Materials in the first quarter worth $212,000. Institutional investors own 96.07% of the company’s stock.

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.