Wells Fargo & Company Lowers Eagle Materials (NYSE:EXP) Price Target to $240.00

Eagle Materials (NYSE:EXP) had its target price decreased by analysts at Wells Fargo & Company from $246.00 to $240.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 16.58% from the stock’s current price.

Several other research firms have also issued reports on EXP. Wall Street Zen raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. raised Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 price target for the company in a report on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Eagle Materials in a report on Tuesday, June 16th. Citigroup restated a “neutral” rating on shares of Eagle Materials in a research report on Wednesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $200.00 target price on shares of Eagle Materials in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Eagle Materials currently has a consensus rating of “Hold” and a consensus target price of $223.70.

Eagle Materials Trading Down 3.4%

Shares of NYSE:EXP opened at $205.87 on Wednesday. The company has a current ratio of 3.66, a quick ratio of 2.09 and a debt-to-equity ratio of 1.18. Eagle Materials has a 12-month low of $171.99 and a 12-month high of $245.53. The business has a 50 day moving average of $213.86 and a two-hundred day moving average of $211.64. The company has a market capitalization of $6.36 billion, a PE ratio of 15.73 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, May 19th. The construction company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.32. The business had revenue of $479.11 million for the quarter, compared to analysts’ expectations of $451.99 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.00 EPS. As a group, analysts forecast that Eagle Materials will post 13.02 EPS for the current year.

Institutional Investors Weigh In On Eagle Materials

Large investors have recently made changes to their positions in the stock. Focus Partners Wealth boosted its stake in Eagle Materials by 21.5% during the first quarter. Focus Partners Wealth now owns 2,019 shares of the construction company’s stock worth $448,000 after buying an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Eagle Materials by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company’s stock worth $35,000 after acquiring an additional 87 shares during the period. First Trust Advisors LP boosted its position in shares of Eagle Materials by 5.8% during the 2nd quarter. First Trust Advisors LP now owns 101,969 shares of the construction company’s stock valued at $20,609,000 after acquiring an additional 5,612 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Eagle Materials by 8.0% in the second quarter. Baird Financial Group Inc. now owns 1,364 shares of the construction company’s stock valued at $276,000 after purchasing an additional 101 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Eagle Materials by 359.9% in the second quarter. Jump Financial LLC now owns 12,510 shares of the construction company’s stock valued at $2,528,000 after purchasing an additional 9,790 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

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.