Loop Capital lowered the firm’s price target on Eagle Materials (EXP) to $237 from $245 and keeps a Hold rating on the shares. The firm cites the company’s Q4 EBITDA miss and decline in sales, noting however that the quarter reflected the impact of adverse weather in cement, concrete and aggregates in January and February. Q4 also saw some pull-forward of annual maintenance of $10M as well as commissioning costs of its new slag cement facility, while aggregates profits were impacted by seasonality at newly acquired assets in KY and PA, the analyst tells investors in a research note.
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