Eagle Materials (NYSE:EXP) Raised to Buy at Zacks Investment Research

Eagle Materials (NYSE:EXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The brokerage presently has a $101.00 price target on the construction company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.65% from the stock’s previous close.

According to Zacks, “Eagle Materials Inc. manufactures and distributes Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants from more than 75 facilities across the US. The Company’s Cement and Concrete and Aggregates segments participate in the construction products sector; Gypsum Wallboard and Recycled Paperboard segments participate in the building materials sector; and Oil and Gas Proppants segment participates in the oil and gas exploration sector. Eagle Materials manufactures and distributes concrete and aggregates products that are used in highway construction and maintenance and to construct residential and commercial buildings. Eagle operates aggregates quarries and concrete plants in central Texas, northern California, Kansas and Missouri. Eagle Materials is committed to building a low delivered-cost Northern white sand supply system for the energy sector. “

A number of other brokerages also recently commented on EXP. Stifel Nicolaus set a $101.00 price objective on shares of Eagle Materials and gave the company a “buy” rating in a research report on Wednesday, July 31st. ValuEngine downgraded shares of Eagle Materials from a “hold” rating to a “sell” rating in a research report on Thursday. Northcoast Research upgraded shares of Eagle Materials from a “sell” rating to a “neutral” rating in a research report on Friday, September 20th. SunTrust Banks set a $95.00 price objective on shares of Eagle Materials and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Exane BNP Paribas assumed coverage on shares of Eagle Materials in a research report on Wednesday. They issued an “outperform” rating and a $112.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $95.42.

NYSE:EXP traded up $0.18 during mid-day trading on Friday, reaching $90.46. The stock had a trading volume of 236,336 shares, compared to its average volume of 597,674. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 2.42. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.70 and a beta of 1.25. Eagle Materials has a twelve month low of $57.00 and a twelve month high of $93.18. The business has a 50 day simple moving average of $86.98 and a 200 day simple moving average of $86.77.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.13 EPS for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($0.27). The firm had revenue of $370.60 million during the quarter, compared to analyst estimates of $376.95 million. Eagle Materials had a net margin of 3.20% and a return on equity of 17.21%. Eagle Materials’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, sell-side analysts expect that Eagle Materials will post 5.22 earnings per share for the current year.

In other news, insider Keith W. Metcalf sold 3,661 shares of Eagle Materials stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $90.00, for a total transaction of $329,490.00. Following the completion of the sale, the insider now directly owns 43,446 shares in the company, valued at approximately $3,910,140. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Keith W. Metcalf sold 10,980 shares of Eagle Materials stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $81.33, for a total transaction of $893,003.40. Following the sale, the insider now owns 58,087 shares of the company’s stock, valued at $4,724,215.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,630 shares of company stock valued at $5,077,899. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in shares of Eagle Materials by 18.3% during the 1st quarter. Advisory Services Network LLC now owns 2,851 shares of the construction company’s stock worth $240,000 after purchasing an additional 441 shares in the last quarter. Weitz Investment Management Inc. purchased a new position in shares of Eagle Materials during the 1st quarter worth approximately $6,618,000. NEXT Financial Group Inc purchased a new position in shares of Eagle Materials during the 2nd quarter worth approximately $294,000. Chicago Equity Partners LLC purchased a new position in shares of Eagle Materials during the 2nd quarter worth approximately $1,307,000. Finally, Stanley Laman Group Ltd. increased its stake in shares of Eagle Materials by 4.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 12,908 shares of the construction company’s stock worth $1,197,000 after purchasing an additional 576 shares in the last quarter. Institutional investors own 97.87% of the company’s stock.

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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