Zacks Investment Research upgraded shares of Eagle Materials, Inc. (NYSE:EXP) from a hold rating to a buy rating in a report released on Thursday morning. They currently have $110.00 price objective on the construction company’s stock.
According to Zacks, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates. “
Shares of Eagle Materials (NYSE:EXP) traded down 1.40% during trading on Thursday, hitting $99.47. The stock had a trading volume of 658,741 shares. Eagle Materials has a 12-month low of $71.24 and a 12-month high of $110.64. The firm has a 50 day moving average price of $97.09 and a 200 day moving average price of $98.67. The firm has a market cap of $4.82 billion, a P/E ratio of 24.06 and a beta of 1.36.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings data on Thursday, May 18th. The construction company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.85 by $0.03. Eagle Materials had a return on equity of 18.45% and a net margin of 16.98%. The firm had revenue of $278.60 million during the quarter, compared to analyst estimates of $271.18 million. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Eagle Materials will post $5.26 earnings per share for the current fiscal year.
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In other news, CEO David B. Powers sold 11,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $99.03, for a total transaction of $1,089,330.00. Following the completion of the sale, the chief executive officer now owns 73,400 shares in the company, valued at approximately $7,268,802. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.50% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Eagle Materials by 43.0% in the fourth quarter. FMR LLC now owns 4,717,092 shares of the construction company’s stock valued at $464,775,000 after buying an additional 1,418,693 shares in the last quarter. BlackRock Inc. raised its stake in shares of Eagle Materials by 16,628.1% in the first quarter. BlackRock Inc. now owns 3,951,353 shares of the construction company’s stock valued at $383,836,000 after buying an additional 3,927,732 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Eagle Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,742,598 shares of the construction company’s stock valued at $363,557,000 after buying an additional 179,308 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Eagle Materials by 8.5% in the first quarter. Neuberger Berman Group LLC now owns 2,380,652 shares of the construction company’s stock valued at $231,257,000 after buying an additional 186,557 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Eagle Materials by 0.3% in the first quarter. State Street Corp now owns 1,307,300 shares of the construction company’s stock valued at $126,993,000 after buying an additional 3,890 shares in the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.
About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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