Eagle Materials Inc. (NYSE:EXP) Receives $289.78 Consensus Target Price from Analysts

Eagle Materials Inc. (NYSE:EXP) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $289.78.

Several brokerages recently issued reports on EXP. Citigroup upped their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Raymond James cut shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Stephens upped their price objective on shares of Eagle Materials from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group increased their price target on shares of Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

Insider Transactions at Eagle Materials

In other news, CFO Dale Craig Kesler sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total value of $1,333,800.00. Following the transaction, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Eric Cribbs sold 1,851 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the transaction, the insider now directly owns 13,937 shares in the company, valued at approximately $3,861,385.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dale Craig Kesler sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the sale, the chief financial officer now owns 60,488 shares in the company, valued at $16,135,778.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,851 shares of company stock worth $2,124,258. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eagle Materials

Hedge funds have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC lifted its holdings in Eagle Materials by 79.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after buying an additional 42 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Eagle Materials during the 1st quarter worth approximately $27,000. Tompkins Financial Corp acquired a new stake in Eagle Materials during the 1st quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in Eagle Materials during the 1st quarter worth approximately $27,000. Finally, Bessemer Group Inc. lifted its holdings in Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after buying an additional 65 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Up 2.9 %

EXP stock opened at $292.11 on Friday. The stock has a market capitalization of $9.89 billion, a P/E ratio of 21.39 and a beta of 1.32. The firm has a 50-day simple moving average of $249.27 and a 200-day simple moving average of $246.61. The company has a quick ratio of 1.17, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. Eagle Materials has a 52 week low of $145.03 and a 52 week high of $292.74.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, July 30th. The construction company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.37. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The business had revenue of $608.69 million during the quarter, compared to analysts’ expectations of $622.06 million. During the same quarter in the previous year, the company earned $3.55 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts forecast that Eagle Materials will post 15.9 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, September 17th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.34%. Eagle Materials’s dividend payout ratio is currently 7.34%.

About Eagle Materials

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.