The stock of Eagle Materials, Inc. (EXP) formed a down wedge with $54.67 target or 9.00% below today’s $60.08 share price. The 9 months wedge indicates high risk for the $3.12B company. If the $54.67 price target is reached, the company will be worth $280.80M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high. The stock decreased 3.55% or $2.21 on December 11, hitting $60.08. About 667,984 shares traded hands. Eagle Materials, Inc. (NYSE:EXP) has declined 28.02% since May 8, 2015 and is downtrending. It has underperformed by 25.00% the S&P500.
Out of 7 analysts covering Eagle Materials (NYSE:EXP), 4 rate it “Buy”, 0 “Sell”, while 6 “Hold”. This means 40% are positive. $100 is the highest target while $67.78 is the lowest. The $80.83 average target is 29.83% above today’s ($60.08) stock price. Eagle Materials was the topic in 4 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Goldman Sachs downgraded the stock on November 20 to “Neutral” rating. Longbow downgraded the shares of EXP in a report on October 9 to “Neutral” rating.
According to Zacks Investment Research, “Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates.” Get a free copy of the Zacks research report on Eagle Materials, Inc. (EXP).
The institutional sentiment increased to 1.21 in Q3 2015. Its up 0.13, from 1.08 in 2015Q2. The ratio is positive, as 41 funds sold all Eagle Materials, Inc. shares owned while 77 reduced positions. 41 funds bought stakes while 102 increased positions. They now own 54.93 million shares or 19.86% more from 45.83 million shares in 2015Q2.
Lodge Hill Capital Llc holds 6.49% of its portfolio in Eagle Materials, Inc. for 445,000 shares. Impala Asset Management Llc owns 1.52 million shares or 6.25% of their US portfolio. Moreover, Gates Capital Management Inc. has 5.76% invested in the company for 2.18 million shares. The New York-based Kortright Capital Partners Lp has invested 4.86% in the stock. Ack Asset Management Llc, a New York-based fund reported 150,000 shares.
Since June 19, 2015, the stock had 0 insider buys, and 2 sales for $195,700 net activity. Graass James H sold 1,500 shares worth $123,000. Devlin William R sold 924 shares worth $72,700.
More recent Eagle Materials, Inc. (NYSE:EXP) news were published by: Seekingalpha.com which released: “Eagle Materials: Is This Construction Materials Company A Buy?” on November 10, 2015. Also Businesswire.com published the news titled: “Eagle Materials Inc. Announces Increase in Authorization to Repurchase Common …” on August 10, 2015. Seekingalpha.com‘s news article titled: “Why I’m Bullish On Eagle Materials (EXP)” with publication date: June 22, 2015 was also an interesting one.
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