JPMorgan Chase & Co. Raises Eagle Materials (NYSE:EXP) Price Target to $310.00

Eagle Materials (NYSE:EXP - Get Free Report) had its price objective raised by research analysts at JPMorgan Chase & Co. from $290.00 to $310.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the construction company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 0.01% from the company's current price.

Several other analysts have also recently issued reports on the stock. Citigroup upped their price target on shares of Eagle Materials from $252.00 to $311.00 and gave the company a "buy" rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of 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 downgraded Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price target for the company. in a research note on Monday. Jefferies Financial Group upped their price objective on Eagle Materials from $309.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Truist Financial lifted their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $307.11.

Eagle Materials Stock Down 1.7 %

Shares of Eagle Materials stock opened at $309.96 on Wednesday. Eagle Materials has a 1-year low of $177.67 and a 1-year high of $321.93. The company has a market capitalization of $10.40 billion, a PE ratio of 21.89 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The business has a 50-day moving average of $294.49 and a 200-day moving average of $259.03.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $651.46 million. During the same quarter last year, the business earned $4.28 EPS. Eagle Materials's revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Eagle Materials will post 15.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Haack sold 11,888 shares of Eagle Materials stock in a transaction that occurred on Friday, November 22nd. The stock was 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 owns 85,811 shares of the company's stock, valued at approximately $26,644,315.50. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the transaction, the senior vice president now directly owns 13,212 shares of the company's stock, valued at $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,866 shares of company stock worth $5,482,931 in the last three months. 1.60% of the stock is owned by insiders.

Institutional Trading of Eagle Materials

Institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Eagle Materials by 30.1% in the third quarter. FMR LLC now owns 3,801,257 shares of the construction company's stock valued at $1,093,432,000 after buying an additional 878,400 shares during the period. Epoch Investment Partners Inc. raised its position in Eagle Materials by 25.2% in the second quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company's stock worth $175,111,000 after acquiring an additional 162,049 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Eagle Materials by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 707,607 shares of the construction company's stock valued at $203,585,000 after acquiring an additional 23,911 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Eagle Materials by 4.9% during the 2nd quarter. William Blair Investment Management LLC now owns 595,276 shares of the construction company's stock valued at $129,449,000 after purchasing an additional 28,003 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Eagle Materials by 33.4% in the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company's stock worth $115,189,000 after purchasing an additional 132,677 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.

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