Eagle Materials (NYSE:EXP) received a revised price target from analysts at Wells Fargo & Company, who lowered their estimate from $261.00 to $251.00 in a report released on October 27, 2023. Despite this adjustment, Wells Fargo maintains an “overweight” rating on the construction company’s stock, suggesting a potential upside of 18.17% from its previous closing price.
Other analysts have also weighed in on Eagle Materials. Weiss Ratings reaffirmed a “hold (C+)” rating on the stock on October 8, 2023. Additionally, DA Davidson reduced its target price from $245.00 to $225.00, maintaining a “neutral” rating. Stifel Nicolaus set a target of $246.00, while Citigroup adjusted its estimate from $255.00 to $233.00, also rating the stock as “neutral.” Overall, four research analysts rated Eagle Materials as a Buy, seven as Hold, and one as Sell, resulting in an average rating of “Hold” and a consensus target price of $253.20, according to data from MarketBeat.com.
Current Stock Performance and Earnings Report
On October 30, 2023, Eagle Materials opened at $212.40. The company boasts a market capitalization of $6.89 billion, a price-to-earnings ratio of 15.64, and a beta of 1.31. The stock has seen a twelve-month low of $191.91 and a high of $321.93. Financial metrics show a current ratio of 2.73, a quick ratio of 1.26, and a debt-to-equity ratio of 0.87. The stock’s 50-day moving average stands at $232.61, while the 200-day moving average is at $222.85.
In its latest earnings report, Eagle Materials announced earnings per share of $4.23, falling short of analysts’ expectations of $4.35 by $0.12. The company reported revenues of $638.91 million, slightly above the expected $635.55 million. Year-on-year, revenue increased by 2.5%, though earnings per share decreased from $4.31 from the same period last year. Analysts project that Eagle Materials will report $14.39 in earnings per share for the current fiscal year.
Institutional Investor Movements
Recently, several institutional investors have adjusted their positions in Eagle Materials. Versant Capital Management Inc increased its stake by 130.9% in the third quarter, now holding 127 shares valued at $30,000. Hantz Financial Services Inc. significantly grew its holdings by 7,750.0% in the second quarter, acquiring 157 shares valued at $32,000. Similarly, MAI Capital Management expanded its position by 3,060.0%, owning 158 shares also valued at $32,000. EverSource Wealth Advisors LLC increased its stake by 102.4%, now holding 172 shares worth $35,000. Notably, 96.07% of Eagle Materials’ stock is held by hedge funds and institutional investors.
Eagle Materials Inc engages in the manufacture and sale of heavy construction materials and light building materials across four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company mines limestone for Portland cement production and gypsum for wallboard manufacturing, contributing to its strong market presence in the construction materials sector.
