Eagle Materials price target lowered to $241 from $242 at Stifel

Stifel analyst Brian Brophy lowered the firm’s price target on Eagle Materials (EXP) to $241 from $242 and keeps a Hold rating on the shares. Fiscal Q4 results were below expectations for revenue in both cement and in wallboard while maintenance timing and other one-time costs weighed on profitability, the analyst tells investors. The firm continues to like Eagle’s low-cost producer position and significant raw material reserves, but remains cautious on the near-term housing outlook given the recent decline in industry sentiment amid affordability challenges, the analyst added.