Eagle Materials (NYSE:EXP) Coverage Initiated at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. began coverage on shares of Eagle Materials (NYSE:EXP) in a report released on Thursday, March 21st, Marketbeat.com reports. The brokerage set a “neutral” rating and a $85.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 1.45% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Longbow Research downgraded shares of Eagle Materials from a “buy” rating to a “neutral” rating in a research report on Thursday, March 14th. Jefferies Financial Group upgraded shares of Eagle Materials from an “underweight” rating to a “market weight” rating in a research report on Monday, March 11th. ValuEngine raised shares of Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Zacks Investment Research raised shares of Eagle Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Northcoast Research cut shares of Eagle Materials from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Eagle Materials currently has a consensus rating of “Buy” and a consensus price target of $103.14.

Shares of EXP stock traded up $0.13 during mid-day trading on Thursday, hitting $86.25. 265,412 shares of the stock were exchanged, compared to its average volume of 783,949. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.82 and a beta of 1.34. Eagle Materials has a 12-month low of $57.00 and a 12-month high of $115.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.87 and a current ratio of 2.26.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Tuesday, January 29th. The construction company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.06). Eagle Materials had a return on equity of 17.49% and a net margin of 16.77%. The firm had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $357.08 million. During the same period in the previous year, the business posted $2.08 EPS. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, research analysts predict that Eagle Materials will post 5.09 EPS for the current year.

In other Eagle Materials news, Director Ed H. Bowman, Jr. sold 2,591 shares of Eagle Materials stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $71.35, for a total value of $184,867.85. Following the completion of the sale, the director now directly owns 12,977 shares of the company’s stock, valued at approximately $925,908.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in EXP. Federated Investors Inc. PA boosted its holdings in shares of Eagle Materials by 4,465.3% in the 3rd quarter. Federated Investors Inc. PA now owns 721,461 shares of the construction company’s stock valued at $61,497,000 after purchasing an additional 705,658 shares during the last quarter. Ardevora Asset Management LLP acquired a new position in shares of Eagle Materials during the 4th quarter valued at $34,958,000. Two Sigma Advisers LP lifted its holdings in shares of Eagle Materials by 1,587.1% during the 4th quarter. Two Sigma Advisers LP now owns 504,078 shares of the construction company’s stock valued at $30,764,000 after acquiring an additional 474,200 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of Eagle Materials during the 4th quarter valued at $25,648,000. Finally, Norges Bank acquired a new position in shares of Eagle Materials during the 4th quarter valued at $25,150,000. 95.68% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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Analyst Recommendations for Eagle Materials (NYSE:EXP)

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