Eagle Materials Inc (NYSE:EXP) Cut to Sell at Zacks Investment Research

Eagle Materials Inc (NYSE:EXP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, August 1st.

According to Zacks, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates. “

Other analysts have also recently issued reports about the company. Standpoint Research upgraded Eagle Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Stephens upgraded Eagle Materials from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 30th. Citigroup Inc. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $115.00 to $110.00 in a research report on Monday, July 31st. Finally, BidaskClub cut Eagle Materials from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $104.67.

Eagle Materials (NYSE:EXP) traded up 0.05% during mid-day trading on Tuesday, hitting $88.58. 439,138 shares of the stock were exchanged. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 20.60 and a beta of 1.23. The company has a 50 day moving average price of $92.34 and a 200 day moving average price of $97.53. Eagle Materials has a 52-week low of $73.27 and a 52-week high of $110.64.

Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 EPS for the quarter, hitting analysts’ consensus estimates of $1.17. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The company had revenue of $366.10 million during the quarter, compared to analyst estimates of $369.68 million. During the same period in the previous year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, analysts anticipate that Eagle Materials will post $5.38 EPS for the current year.

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In other news, insider Gerald J. Essl sold 2,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $93.40, for a total transaction of $186,800.00. Following the sale, the insider now owns 39,859 shares in the company, valued at $3,722,830.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David B. Powers sold 11,317 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $93.57, for a total value of $1,058,931.69. Following the sale, the chief executive officer now owns 106,580 shares in the company, valued at approximately $9,972,690.60. The disclosure for this sale can be found here. Insiders sold 23,317 shares of company stock worth $2,255,732 over the last quarter. Company insiders own 4.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in EXP. Bank of Montreal Can boosted its stake in shares of Eagle Materials by 0.3% in the second quarter. Bank of Montreal Can now owns 6,304 shares of the construction company’s stock valued at $583,000 after buying an additional 17 shares during the last quarter. RPG Investment Advisory LLC boosted its stake in shares of Eagle Materials by 0.3% in the first quarter. RPG Investment Advisory LLC now owns 7,308 shares of the construction company’s stock valued at $709,000 after buying an additional 21 shares during the last quarter. Greenwood Capital Associates LLC boosted its stake in shares of Eagle Materials by 1.0% in the second quarter. Greenwood Capital Associates LLC now owns 2,456 shares of the construction company’s stock valued at $227,000 after buying an additional 25 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Eagle Materials by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,343 shares of the construction company’s stock valued at $810,000 after buying an additional 33 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Eagle Materials by 2.5% in the first quarter. Coldstream Capital Management Inc. now owns 2,265 shares of the construction company’s stock valued at $220,000 after buying an additional 55 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.

Eagle Materials Company Profile

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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