Eagle Materials (NYSE:EXP) Downgraded by Zacks Research to Hold

Eagle Materials (NYSE:EXP) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. upgraded Eagle Materials from an “underweight” rating to a “neutral” rating and set a $225.00 target price on the stock in a research report on Tuesday, June 2nd. Royal Bank Of Canada lifted their price objective on shares of Eagle Materials from $208.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 20th. Wells Fargo & Company dropped their price objective on shares of Eagle Materials from $246.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eagle Materials in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $200.00 target price on shares of Eagle Materials in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Eagle Materials currently has an average rating of “Hold” and a consensus target price of $226.00.

Eagle Materials Stock Performance

Shares of EXP opened at $221.30 on Monday. The stock has a 50-day moving average of $214.70 and a two-hundred day moving average of $211.10. Eagle Materials has a one year low of $171.99 and a one year high of $245.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.09 and a current ratio of 3.66. The stock has a market cap of $6.84 billion, a P/E ratio of 16.87 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.08). The firm had revenue of $650.97 million for the quarter, compared to analysts’ expectations of $620.35 million. Eagle Materials had a net margin of 18.36% and a return on equity of 28.27%. As a group, research analysts predict that Eagle Materials will post 12.9 EPS for the current year.

Institutional Investors Weigh In On Eagle Materials

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Eagle Materials by 9.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,015 shares of the construction company’s stock valued at $228,000 after purchasing an additional 84 shares in the last quarter. Hilltop National Bank boosted its position in Eagle Materials by 38.3% during the second quarter. Hilltop National Bank now owns 589 shares of the construction company’s stock worth $133,000 after purchasing an additional 163 shares in the last quarter. Redwood Investment Management LLC purchased a new position in Eagle Materials during the first quarter worth approximately $1,080,000. NewEdge Advisors LLC grew its holdings in Eagle Materials by 4.6% in the first quarter. NewEdge Advisors LLC now owns 3,804 shares of the construction company’s stock valued at $721,000 after purchasing an additional 166 shares during the period. Finally, Glenmede Trust Co. NA acquired a new stake in Eagle Materials in the first quarter valued at approximately $212,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.