CL King Downgrades Eagle Materials to Neutral

Brokerage firm CL King Downgrades its rating on Eagle Materials(NYSE:EXP). The shares have been rated Neutral. Previously, the analysts had a Strong Buy rating on the shares. The rating by CL King was issued on Jul 26, 2016.

Eagle Materials (EXP) shares turned negative on Fridays trading session with the shares closing down -1.05 points or -1.24% at a volume of 10,00,182. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $84.95. The peak price level was also seen at $84.95 while the days lowest was $81.85. Finally the shares closed at $83.95. The 52-week high of the shares is $87.57 while the 52-week low is $45.025. According to the latest information available, the market cap of the company is $4,049 M.

Eagle Materials(EXP) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $297.50M. Analysts had an estimated revenue of $295.49M. Earnings per share were $0.93. Analysts had estimated an EPS of $0.86.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, Richard Ross Stewart (director) sold 10,888 shares at $72.84 per share price.Also, On May 27, 2016, Dale Craig Kesler (EVP and CFO) sold 32,184 shares at $79.64 per share price.On Sep 9, 2015, James H Graass (EVP & General Counsel) sold 1,500 shares at $82.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Eagle Materials Inc. manufactures and distributes gypsum wallboard and also manufactures and sells cement. Gypsum wallboard is distributed throughout the United States in the geographic markets nearest to its production facilities. The Company sells cement in six regional markets including northern Nevada and California the greater Chicago area the Rocky Mountain region the Central Plains region and Texas. Its gypsum wallboard business is supported by its recycled paperboard business while its cement business is supported by its concrete and aggregates business. The Company operates six cement plants five gypsum wallboard plants one recycled paperboard plant seventeen concrete batching plants four aggregates facilities and one frac sand processing and drying plant. The Company operates in two business segments: Cement and Concrete and Aggregates and Gypsum Wallboard and Recycled Paperboard.

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