Eagle Materials (NYSE:EXP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Eagle Materials (NYSE:EXP - Get Free Report) had its price objective upped by investment analysts at The Goldman Sachs Group from $277.00 to $317.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. The Goldman Sachs Group's price objective suggests a potential upside of 9.86% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Raymond James lowered Eagle Materials from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 17th. Citigroup raised their target price on Eagle Materials from $252.00 to $311.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Eagle Materials from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised their target price on Eagle Materials from $309.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Stephens raised their target price on Eagle Materials from $280.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Eagle Materials currently has an average rating of "Moderate Buy" and a consensus price target of $302.67.

Eagle Materials Stock Up 2.0 %

NYSE EXP traded up $5.63 on Wednesday, reaching $288.55. The company had a trading volume of 293,706 shares, compared to its average volume of 308,193. The stock has a market capitalization of $9.77 billion, a P/E ratio of 21.19 and a beta of 1.32. The company's fifty day moving average is $276.84 and its 200 day moving average is $252.76. Eagle Materials has a 52-week low of $152.59 and a 52-week high of $306.36. The company has a quick ratio of 1.17, a current ratio of 2.45 and a debt-to-equity ratio of 0.81.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing analysts' consensus estimates of $4.75 by ($0.44). Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The company 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 company posted $4.28 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Eagle Materials will post 15.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director George John Damiris sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total transaction of $277,620.00. Following the transaction, the director now directly owns 7,943 shares of the company's stock, valued at approximately $2,205,135.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Eagle Materials

Several hedge funds have recently made changes to their positions in EXP. QRG Capital Management Inc. bought a new stake in shares of Eagle Materials during the third quarter valued at approximately $235,000. Mariner Investment Group LLC bought a new stake in Eagle Materials in the third quarter worth $288,000. Van ECK Associates Corp boosted its holdings in Eagle Materials by 40.0% in the third quarter. Van ECK Associates Corp now owns 22,485 shares of the construction company's stock worth $6,443,000 after acquiring an additional 6,424 shares in the last quarter. US Bancorp DE boosted its holdings in Eagle Materials by 1.9% in the third quarter. US Bancorp DE now owns 4,911 shares of the construction company's stock worth $1,413,000 after acquiring an additional 90 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new stake in Eagle Materials in the third quarter worth $222,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

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.