Jefferies analyst Philip Ng maintains $Eagle Materials (EXP.US)$ with a buy rating, and adjusts the target price from $309 to $330.
According to TipRanks data, the analyst has a success rate of 57.4% and a total average return of 10.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Eagle Materials (EXP.US)$'s main analysts recently are as follows:
Valuations in the construction materials sector appear slightly elevated given subdued growth projections. The absence of immediate catalysts and the prospect of a weak third quarter suggest there might be additional downside as valuations return to their historical norms. A cautious stance is advised in terms of expanding positions, with the possibility of more favorable opportunities arising in the future.
The building products group's estimates have been adjusted to account for short-term challenges, including inclement weather and a decline in housing starts, which may contribute to volatility in stocks around earnings announcements. Nonetheless, optimism persists for the sector's prospects in 2025, anticipating a favorable response to the easing of rates. It's expected that companies which have not performed as well recently could experience a surge in their stock prices following the release of their earnings reports.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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