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

Eagle Materials (NYSE:EXP) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday,Briefing.com Automated Import reports.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of Eagle Materials from $277.00 to $317.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research report on Monday, November 25th. Jefferies Financial Group downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and dropped their target price for the company from $330.00 to $310.00 in a report on Monday, December 16th. Truist Financial lifted their price objective on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $304.89.

Eagle Materials Stock Performance

Shares of EXP stock opened at $247.44 on Monday. Eagle Materials has a 12 month low of $195.93 and a 12 month high of $321.93. The company has a market cap of $8.30 billion, a P/E ratio of 17.47 and a beta of 1.37. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average price of $284.66 and a 200 day moving average price of $265.89.

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

Insider Transactions at Eagle Materials

In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the transaction, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Ross Stewart sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the completion of the transaction, the director now owns 1,100 shares of the company’s stock, valued at approximately $330,330. This trade represents a 76.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,866 shares of company stock valued at $5,205,311. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EXP. Commonwealth Equity Services LLC raised its position in Eagle Materials by 7.1% during the second quarter. Commonwealth Equity Services LLC now owns 2,717 shares of the construction company’s stock valued at $591,000 after buying an additional 180 shares during the period. Arizona State Retirement System grew its position in shares of Eagle Materials by 0.6% in the second quarter. Arizona State Retirement System now owns 9,644 shares of the construction company’s stock valued at $2,097,000 after purchasing an additional 56 shares during the last quarter. Quest Partners LLC grew its holdings in Eagle Materials by 30,775.0% in the 2nd quarter. Quest Partners LLC now owns 1,235 shares of the construction company’s stock valued at $269,000 after buying an additional 1,231 shares during the last quarter. AGF Management Ltd. lifted its holdings in shares of Eagle Materials by 66.8% during the second quarter. AGF Management Ltd. now owns 35,211 shares of the construction company’s stock worth $7,657,000 after buying an additional 14,095 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Eagle Materials by 18.0% in the second quarter. American Century Companies Inc. now owns 76,797 shares of the construction company’s stock valued at $16,700,000 after acquiring an additional 11,702 shares during the period. 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.