Eagle Materials (NYSE:EXP) Downgraded by Citigroup to “Neutral”

Eagle Materials (NYSE:EXP) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports.

A number of other research firms have also recently commented on EXP. The Goldman Sachs Group increased their target price on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Loop Capital cut shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, November 25th. Truist Financial increased their price target on shares of Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group lowered Eagle Materials from a “buy” rating to a “hold” rating and decreased their target price for the stock from $330.00 to $310.00 in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price target on Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $304.89.

Eagle Materials Stock Performance

Eagle Materials stock opened at $247.44 on Monday. The firm has a market capitalization of $8.30 billion, a PE ratio of 17.47 and a beta of 1.37. Eagle Materials has a 1-year low of $195.93 and a 1-year high of $321.93. The firm’s 50 day simple moving average is $284.66 and its 200 day simple moving average is $265.89. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.44). Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The business had revenue of $623.62 million during the quarter, compared to analysts’ expectations of $651.46 million. During the same period in the previous year, the business earned $4.28 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, analysts expect that Eagle Materials will post 15.24 earnings per share for the current fiscal year.

Insider Activity at Eagle Materials

In other Eagle Materials news, CEO Michael Haack sold 11,888 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the sale, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now directly owns 13,212 shares in the company, valued at approximately $4,148,568. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,866 shares of company stock valued at $5,205,311 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

Several large investors have recently bought and sold shares of EXP. Capital Performance Advisors LLP purchased a new position in Eagle Materials in the 3rd quarter valued at $64,000. Quent Capital LLC grew its stake in Eagle Materials by 155.3% during the 3rd quarter. Quent Capital LLC now owns 434 shares of the construction company’s stock valued at $125,000 after acquiring an additional 264 shares in the last quarter. GAMMA Investing LLC raised its holdings in Eagle Materials by 29.7% in the 3rd quarter. GAMMA Investing LLC now owns 611 shares of the construction company’s stock valued at $176,000 after acquiring an additional 140 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Eagle Materials by 23.5% in 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Eagle Materials by 789.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 703 shares of the construction company’s stock worth $202,000 after purchasing an additional 624 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Materials

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.