Raymond James Sticks to Their Buy Rating for Eagle Materials (EXP)

By Carrie Williams

In a report released today, Joshua Wilson from Raymond James maintained a Buy rating on Eagle Materials (EXPResearch Report), with a price target of $95.00. The company’s shares closed last Friday at $79.16.

Wilson has an average return of 2.7% when recommending Eagle Materials.

According to TipRanks.com, Wilson is ranked #2300 out of 6832 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eagle Materials with a $80.63 average price target, representing a -1.1% downside. In a report issued on July 22, Citigroup also maintained a Buy rating on the stock with a $90.00 price target.

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Based on Eagle Materials’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $315 million and net profit of $72.43 million. In comparison, last year the company earned revenue of $285 million and had a GAAP net loss of $128 million.

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Eagle Materials, Inc. is a holding company, which engages in the provision of heavy construction materials, light building materials, and materials used for oil and natural gas extraction. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Cement segment deals with the manufacture, production, distribution, and sale of portland cement. The Concrete and Aggregates segment involves mixing cement, sand, gravel, or crushed stone and water to form concrete, which is then sold and distributed to construction contractors. The Gypsum Wallboard segment mines and extracts natural gypsum rock, which is used in the manufacture of gypsum wallboard. The Recycled Paperboard segment processes paper fiber, water, and paper chemicals to form recycled paperboards, then sell them to gypsum wallboard manufacturers. The Oil and Gas Proppants segment produces frac sand used in oil and natural gas exploration, and provides transloading and storage for well servicing companies. The company was founded in 1963 and is headquartered in Dallas, TX.