DA Davidson Cuts Eagle Materials (NYSE:EXP) Price Target to $260.00

Eagle Materials (NYSE:EXPFree Report) had its target price decreased by DA Davidson from $265.00 to $260.00 in a research note released on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the construction company’s stock.

Several other research analysts have also recently issued reports on the company. Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research note on Monday, November 25th. Citigroup lowered Eagle Materials from a “buy” rating to a “neutral” rating and cut their price target for the company from $334.00 to $280.00 in a research note on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $310.00 price target on shares of Eagle Materials in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Eagle Materials has a consensus rating of “Hold” and a consensus price target of $296.80.

Check Out Our Latest Report on Eagle Materials

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $259.48 on Thursday. Eagle Materials has a 52 week low of $211.44 and a 52 week high of $321.93. The company has a market capitalization of $8.70 billion, a PE ratio of 18.53 and a beta of 1.37. The stock’s fifty day moving average is $265.95 and its two-hundred day moving average is $269.68. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXPGet Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.97% and a net margin of 20.91%. As a group, analysts expect that Eagle Materials will post 15.11 earnings per share for the current year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Eagle Materials’s dividend payout ratio is presently 7.14%.

Insider Buying and Selling

In other news, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total transaction of $3,691,224.00. Following the sale, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at $26,644,315.50. The trade was a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total value of $1,074,173.10. Following the completion of the transaction, the director now directly owns 1,100 shares in the company, valued at approximately $330,330. The trade was a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,866 shares of company stock worth $5,205,311 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Eagle Materials in the 3rd quarter worth approximately $64,000. R Squared Ltd acquired a new stake in shares of Eagle Materials in the fourth quarter worth $81,000. Quent Capital LLC lifted its position in Eagle Materials by 155.3% during the third quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock valued at $125,000 after purchasing an additional 264 shares during the period. GAMMA Investing LLC boosted its holdings in Eagle Materials by 29.7% in the third quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock valued at $176,000 after purchasing an additional 140 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its position in Eagle Materials by 23.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 630 shares of the construction company’s stock worth $181,000 after purchasing an additional 120 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Materials

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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, including Portland limestone 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, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.

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Analyst Recommendations for Eagle Materials (NYSE:EXP)

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