Loop Capital lowered the firm’s price target on Eagle Materials to $305 from $310 and keeps a Buy rating on the shares. The company reported a worse than expected quarter mainly on weaker cement margins, the analyst tells investors in a research note, noting that while “pricing was fine”, the margins were pressured by the $7M of maintenance costs that were unexpected. Eagle Materials’ management seems positive moving forward in the single family home demand environment, though the firm warns that there could be several more muted quarters of demand, Loop added.
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