JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Eagle Materials (NYSE:EXP) Stock

Eagle Materials (NYSE:EXP) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $290.00 to $310.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.33% from the company’s current price.

Several other research analysts have also recently weighed in on EXP. Stephens boosted their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup upped their price objective on Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Loop Capital cut Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.11.

Eagle Materials Price Performance

NYSE:EXP opened at $305.93 on Wednesday. The firm has a market cap of $10.26 billion, a P/E ratio of 21.61 and a beta of 1.32. The stock has a 50 day moving average of $295.52 and a two-hundred day moving average of $259.65. Eagle Materials has a 12 month low of $177.67 and a 12 month high of $321.93. 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 announced 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). The firm had revenue of $623.62 million during the quarter, compared to analysts’ expectations of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.28 EPS. On average, analysts expect that Eagle Materials will post 15.24 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Ross Stewart sold 3,577 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 1,100 shares in the company, valued at $330,330. This represents a 76.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Thompson sold 1,401 shares of the firm’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 transaction, the senior vice president now directly owns 13,212 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 17,866 shares of company stock worth $5,482,931. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. increased its position in Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Eagle Materials during the first quarter valued at approximately $42,000. McClarren Financial Advisors Inc. boosted its position in Eagle Materials by 10,750.0% during the second quarter. McClarren Financial Advisors Inc. now owns 217 shares of the construction company’s stock worth $47,000 after acquiring an additional 215 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Eagle Materials in the 3rd quarter worth approximately $64,000. Finally, Quent Capital LLC raised its holdings in Eagle Materials by 155.3% in 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 during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.