Eagle Materials (NYSE:EXP) upgraded to buy on StockNews.com

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Eagle materials (NYSE: EXPGet a rating) has been updated by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

EXP has been the subject of several other research reports. Raymond James cut his price target on Eagle Materials from $175.00 to $145.00 and set a “hold” rating for the company in a Tuesday, July 26 report. DA Davidson reduced its price target on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating for the company in a Friday, May 20 report. Stephens cut its price target on Eagle Materials to $170.00 in a Tuesday, July 26 report. JPMorgan Chase & Co. downgraded Eagle Materials from an “overweight” rating to a “neutral” rating and lowered its share price target from $165.00 to $130.00 in a Wednesday 20 report. July. Finally, Truist Financial lowered its price target on Eagle Materials from $172.00 to $155.00 and set a “buy” rating for the company in a Monday, May 23 report. Five analysts gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.00.

Eagle Materials Stock Performance

EXP opened at $126.45 on Friday. The company has a market capitalization of $4.82 billion, a PE ratio of 13.83 and a beta of 1.27. The stock has a 50-day moving average of $119.70 and a 200-day moving average of $128.75. Eagle Materials has a 52-week low of $105.34 and a 52-week high of $169.15. The company has a debt ratio of 0.83, a quick ratio of 0.99 and a current ratio of 2.13.

Eagle materials (NYSE: EXPGet a rating) last announced its results on Thursday, May 19. The construction company reported earnings per share of $1.90 for the quarter, beating the consensus estimate of $1.74 by $0.16. Eagle Materials had a return on equity of 30.51% and a net margin of 20.10%. The company posted revenue of $413.10 million in the quarter, versus a consensus estimate of $400.68 million. In the same quarter of the previous year, the company achieved EPS of $1.56. The company’s revenue for the quarter increased by 20.3% compared to the same quarter last year. As a group, equity research analysts expect Eagle Materials to post earnings per share of 11.36 for the current fiscal year.

Insider Activity at Eagle Materials

In related news, the director Ed H. Bowman, Jr. sold 1,828 shares of Eagle Materials in a trade dated Friday, June 17. The stock was sold at an average price of $110.15, for a total transaction of $201,354.20. Following completion of the transaction, the administrator now owns 10,485 shares of the company, valued at $1,154,922.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. In other news, Executive Vice Chairman James H. Graass sold 9,092 shares of the company in a trade that took place on Monday, May 23. The stock was sold at an average price of $125.02, for a total transaction of $1,136,681.84. Following the completion of the sale, the executive vice president now owns 20,090 shares of the company, valued at $2,511,651.80. The sale was disclosed in an SEC filing, available at this hyperlink. Additionally, director Ed H. Bowman, Jr. sold 1,828 shares of the company in a trade that took place on Friday, June 17. The stock was sold at an average price of $110.15, for a total value of $201,354.20. Following the sale, the director now owns 10,485 shares of the company, valued at approximately $1,154,922.75. Disclosure of this sale can be found here. During the last quarter, insiders sold 17,776 shares of the company valued at $2,214,229. 1.60% of the shares are held by insiders.

Institutional investors weigh in on Eagle Materials

Several institutional investors have recently changed their positions in the stock. Greenwood Capital Associates LLC increased its stake in Eagle Materials shares by 0.9% in the fourth quarter. Greenwood Capital Associates LLC now owns 8,858 shares of the construction company valued at $1,475,000 after purchasing 77 additional shares during the period. Russell Investments Group Ltd. increased its stake in shares of Eagle Materials by 0.4% in the fourth quarter. Russell Investments Group Ltd. now owns 19,859 shares of the construction company valued at $3,303,000 after purchasing an additional 78 shares during the period. Meritage Portfolio Management increased its stake in Eagle Materials shares by 5.2% in the fourth quarter. Meritage Investment Management now owns 1,717 shares of the construction company valued at $286,000 after purchasing 85 additional shares during the period. Vestmark Advisory Solutions Inc. increased its stake in Eagle Materials shares by 5.9% in the first quarter. Vestmark Advisory Solutions Inc. now owns 1,764 shares of the construction company valued at $226,000 after purchasing 98 additional shares during the period. Finally, First Dallas Securities Inc. increased its stake in Eagle Materials shares by 0.9% in the second quarter. First Dallas Securities Inc. now owns 11,010 shares of the construction company valued at $1,210,000 after purchasing an additional 100 shares during the period. 96.87% of the shares are currently held by institutional investors.

Eagle Materials Company Profile

(Get a rating)

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy building materials and light building materials in the United States. It operates through the segments of cement, concrete and aggregates, gypsum board and recycled paperboard. The company is engaged in the extraction of limestone for the manufacture, production, distribution and sale of Portland cement; crushing and sale of slag; and the extraction of gypsum for the manufacture and sale of plasterboard used for finishing interior walls and ceilings in residential, commercial and industrial structures.

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