Eagle Materials Inc (NYSE:EXP) Stock Rated “Reduce” by Wall Street Brokerages

Eagle Materials Inc (NYSE:EXP) has received a consensus rating of “Reduce” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $195.22.

Several brokerages have commented on EXP. Truist Financial dropped their price objective on Eagle Materials from $210.00 to $165.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. Zacks Research downgraded Eagle Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eagle Materials in a research note on Friday, September 11th. Royal Bank Of Canada decreased their target price on Eagle Materials from $219.00 to $170.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Finally, DA Davidson reduced their price objective on shares of Eagle Materials from $220.00 to $207.00 and set a “neutral” rating for the company in a research report on Monday, September 14th.

Eagle Materials Price Performance

NYSE:EXP opened at $192.78 on Friday. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17. Eagle Materials has a 52 week low of $160.02 and a 52 week high of $245.53. The stock’s 50-day moving average price is $179.76 and its 200-day moving average price is $202.36. The stock has a market capitalization of $5.91 billion, a PE ratio of 15.24 and a beta of 1.29.

Insider Activity at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $203.96, for a total transaction of $626,973.04. Following the completion of the sale, the senior vice president owned 10,142 shares of the company’s stock, valued at $2,068,562.32. The trade was a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EXP. University of Texas Texas AM Investment Management Co. lifted its stake in Eagle Materials by 54.4% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 596 shares of the construction company’s stock worth $102,000 after purchasing an additional 210 shares in the last quarter. StoneX Group Inc. acquired a new position in shares of Eagle Materials during the 3rd quarter worth approximately $313,000. Kestra Advisory Services LLC grew its position in shares of Eagle Materials by 14.6% in the third quarter. Kestra Advisory Services LLC now owns 1,691 shares of the construction company’s stock valued at $289,000 after purchasing an additional 215 shares in the last quarter. Covestor Ltd grew its position in shares of Eagle Materials by 23.9% in the third quarter. Covestor Ltd now owns 519 shares of the construction company’s stock valued at $89,000 after purchasing an additional 100 shares in the last quarter. Finally, Provenance Wealth Advisors LLC grew its position in shares of Eagle Materials by 17,370.0% in the third quarter. Provenance Wealth Advisors LLC now owns 1,747 shares of the construction company’s stock valued at $299,000 after purchasing an additional 1,737 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE: EXP) is a U.S.-based manufacturer of building materials used in residential, commercial, infrastructure and industrial construction. The company’s principal products include cement, gypsum wallboard, concrete and aggregates.

Its cement business produces and distributes Portland cement and related cement products, while its gypsum wallboard business supplies panels used in interior construction. Eagle Materials also provides ready-mixed concrete and construction aggregates, including crushed stone, sand and gravel, for building and infrastructure projects.

The company traces its history to Centex Construction Products, which was spun off from Centex Corporation in 1994 and later adopted the Eagle Materials name.