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

Zacks Investment Research upgraded shares of Eagle Materials (NYSE:EXP) from a hold rating to a buy rating in a research note released on Friday morning, Zacks.com reports. Zacks Investment Research currently has $103.00 price target on the construction company’s stock.

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. “

Several other research analysts have also commented on EXP. JPMorgan Chase & Co. dropped 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 note on Thursday, September 5th. BNP Paribas assumed coverage on shares of Eagle Materials in a report on Wednesday, October 9th. They set an outperform rating on the stock. ValuEngine raised shares of Eagle Materials from a sell rating to a hold rating in a research note on Friday, November 1st. Northcoast Research raised shares of Eagle Materials from a sell rating to a neutral rating in a research note on Friday, September 20th. Finally, DA Davidson upped their price objective on shares of Eagle Materials to $94.00 and gave the stock a neutral rating in a report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Eagle Materials has a consensus rating of Buy and a consensus price target of $97.50.

Shares of Eagle Materials stock opened at $92.67 on Friday. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 1.43 and a beta of 1.29. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.50 and a quick ratio of 1.26. Eagle Materials has a 52-week low of $57.00 and a 52-week high of $97.10. The stock has a 50-day simple moving average of $92.89 and a 200-day simple moving average of $88.47.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.18. The firm had revenue of $414.50 million for the quarter, compared to the consensus estimate of $380.38 million. Eagle Materials had a return on equity of 18.87% and a net margin of 3.07%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 earnings per share. As a group, equities research analysts predict that Eagle Materials will post 5.41 earnings per share for the current year.

The firm also recently disclosed a dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 10th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, December 9th. Eagle Materials’s dividend payout ratio is presently 7.92%.

In other news, insider Keith W. Metcalf sold 3,771 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $95.00, for a total transaction of $358,245.00. Following the sale, the insider now directly owns 35,839 shares in the company, valued at $3,404,705. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Keith W. Metcalf sold 3,661 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $90.00, for a total value of $329,490.00. Following the completion of the transaction, the insider now owns 43,446 shares of the company’s stock, valued at $3,910,140. The disclosure for this sale can be found here. Insiders have sold a total of 44,710 shares of company stock valued at $4,141,432 in the last three months. 2.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC lifted its position in shares of Eagle Materials by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 560 shares of the construction company’s stock worth $50,000 after buying an additional 112 shares during the period. Advisory Services Network LLC raised its stake in Eagle Materials by 5.2% during the second quarter. Advisory Services Network LLC now owns 3,000 shares of the construction company’s stock worth $278,000 after acquiring an additional 149 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Eagle Materials by 3.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,500 shares of the construction company’s stock worth $495,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Eagle Materials by 4.0% during the second quarter. AQR Capital Management LLC now owns 5,388 shares of the construction company’s stock valued at $490,000 after acquiring an additional 205 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Eagle Materials by 9.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,904 shares of the construction company’s stock valued at $261,000 after acquiring an additional 243 shares during the period. 97.07% of the stock is currently owned by institutional investors and hedge funds.

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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