Eagle Materials price target raised to $315 from $280 at Stephens

Stephens analyst Trey Grooms raised the firm’s price target on Eagle Materials to $315 from $280 and keeps an Overweight rating on the shares. Q1 sales slightly missed estimates, but profitability surpassed expectations, notes the analyst, who expects flattish sequential pricing for both wallboard and cement until March 2025 with no further pricing actions planned for the calendar year. The firm continues to see structurally higher margins for Eagle given supply constraints and relatively strong demand for both segments, the analyst added.