Raymond James Boosts Eagle Materials (EXP) Price Target to $97.00

Eagle Materials (NYSE:EXP) had its price target boosted by research analysts at Raymond James from $95.00 to $97.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Raymond James’ price objective suggests a potential upside of 6.51% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Citigroup reiterated a “buy” rating and issued a $105.00 price target (up from $101.00) on shares of Eagle Materials in a research note on Friday. Zacks Investment Research cut Eagle Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. TheStreet upgraded Eagle Materials from a “c+” rating to a “b-” rating in a research note on Monday, April 15th. Berenberg Bank started coverage on Eagle Materials in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $103.00 price objective for the company. Finally, Macquarie set a $100.00 price objective on Eagle Materials and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $104.95.

Eagle Materials stock opened at $91.07 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.38 and a quick ratio of 0.87. Eagle Materials has a one year low of $57.00 and a one year high of $115.75. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.36.

Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, May 16th. The construction company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Eagle Materials had a return on equity of 17.82% and a net margin of 4.94%. The company had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $278.70 million. During the same period last year, the business posted $0.76 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that Eagle Materials will post 5.48 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Eagle Materials by 1.1% during the fourth quarter. BlackRock Inc. now owns 4,328,050 shares of the construction company’s stock worth $264,142,000 after acquiring an additional 45,955 shares during the period. FMR LLC grew its holdings in Eagle Materials by 69.9% during the first quarter. FMR LLC now owns 3,445,277 shares of the construction company’s stock worth $290,437,000 after acquiring an additional 1,418,021 shares during the period. Sachem Head Capital Management LP acquired a new stake in Eagle Materials during the first quarter worth about $280,298,000. Wells Fargo & Company MN grew its holdings in Eagle Materials by 3.5% during the first quarter. Wells Fargo & Company MN now owns 2,657,278 shares of the construction company’s stock worth $224,008,000 after acquiring an additional 90,249 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Eagle Materials by 4.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,299,538 shares of the construction company’s stock worth $140,339,000 after acquiring an additional 94,338 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Eagle Materials

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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