ValuEngine Downgrades Eagle Materials (NYSE:EXP) to Sell

ValuEngine downgraded shares of Eagle Materials (NYSE:EXP) from a hold rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

EXP has been the subject of several other research reports. Exane BNP Paribas started coverage on shares of Eagle Materials in a research note on Wednesday, October 9th. They set an outperform rating and a $112.00 target price for the company. Northcoast Research raised shares of Eagle Materials from a sell rating to a neutral rating in a research note on Friday, September 20th. Stifel Nicolaus set a $101.00 price target on shares of Eagle Materials and gave the stock a buy rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Eagle Materials from $95.00 to $85.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Finally, Jefferies Financial Group cut shares of Eagle Materials from a buy rating to a hold rating and reduced their price target for the stock from $106.00 to $92.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Eagle Materials has an average rating of Buy and a consensus target price of $95.42.

EXP stock traded up $0.13 during mid-day trading on Thursday, hitting $90.59. 127,077 shares of the company were exchanged, compared to its average volume of 390,312. The company has a quick ratio of 1.05, a current ratio of 2.42 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $3.79 billion, a P/E ratio of 17.94, a PEG ratio of 1.73 and a beta of 1.25. The business has a fifty day simple moving average of $86.98 and a 200-day simple moving average of $86.77. Eagle Materials has a 12-month low of $57.00 and a 12-month high of $93.18.

Eagle Materials (NYSE:EXP) last announced its earnings results on Tuesday, July 30th. The construction company reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.27). The company had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $376.95 million. Eagle Materials had a return on equity of 17.21% and a net margin of 3.20%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business earned $1.38 EPS. Research analysts predict that Eagle Materials will post 5.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio is presently 7.92%.

In related news, Director David B. Powers sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the sale, the director now owns 86,840 shares of the company’s stock, valued at $7,381,400. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David B. Powers sold 7,681 shares of the firm’s 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 $691,290.00. Following the completion of the sale, the director now directly owns 94,521 shares in the company, valued at approximately $8,506,890. The disclosure for this sale can be found here. Insiders have sold 59,630 shares of company stock worth $5,077,899 in the last three months. Corporate insiders own 2.20% of the company’s stock.

A number of large investors have recently modified their holdings of EXP. Transamerica Financial Advisors Inc. acquired a new stake in Eagle Materials in the second quarter valued at approximately $71,000. Griffin Asset Management Inc. acquired a new stake in Eagle Materials in the second quarter valued at approximately $166,000. NN Investment Partners Holdings N.V. acquired a new stake in Eagle Materials in the second quarter valued at approximately $174,000. HM Payson & Co. acquired a new stake in Eagle Materials in the second quarter valued at approximately $196,000. Finally, Verition Fund Management LLC acquired a new stake in Eagle Materials in the second quarter valued at approximately $221,000. 97.87% of the stock is currently owned by hedge funds and other institutional investors.

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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