Eagle Materials Inc (EXP)
Eagle Materials Inc., produces and supplies heavy construction materials, lightweight construction materials and materials used for the extraction of oil and natural gas in the United States. The company is headquartered in Dallas, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 55.80% per annum.
- EXP price at the close of July 25, 2024 was $235.62 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 37.90% per annum.
- EXP price at the close of July 25, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of EXP price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: June 16, 2022
End date: May 31, 2024
a = 3.3754
b = 0.0012
s = 0.0829
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0012) – 1
= 55.80%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0829) – 1
= 39.31%
June 16, 2022 calculations
Top border of price channel:
Exp(Y729)
= Exp(a + b × X729 + 2 × s)
= Exp(a + b × 1,056 + 2 × s)
= Exp(3.3754 + 0.0012 × 1,056 + 2 × 0.0829)
= Exp(4.8239)
= $124.45
Bottom border of price channel:
Exp(Y729)
= Exp(a + b × X729 – 2 × s)
= Exp(a + b × 1,056 – 2 × s)
= Exp(3.3754 + 0.0012 × 1,056 – 2 × 0.0829)
= Exp(4.4924)
= $89.34
May 31, 2024 calculations
Top border of price channel:
Exp(Y1,220)
= Exp(a + b × X1,220 + 2 × s)
= Exp(a + b × 1,771 + 2 × s)
= Exp(3.3754 + 0.0012 × 1,771 + 2 × 0.0829)
= Exp(5.6925)
= $296.63
Bottom border of price channel:
Exp(Y1,220)
= Exp(a + b × X1,220 – 2 × s)
= Exp(a + b × 1,771 – 2 × s)
= Exp(3.3754 + 0.0012 × 1,771 – 2 × 0.0829)
= Exp(5.3610)
= $212.93
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 55.80% per annum.
- EXP price at the close of July 25, 2024 was $235.62 and was inside the primary price channel.
Secondary Trend
Start date: February 29, 2024
End date: July 25, 2024
a = 7.7823
b = -0.0013
s = 0.0488
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0013) – 1
= -37.90%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0488) – 1
= 21.58%
February 29, 2024 calculations
Top border of price channel:
Exp(Y1,156)
= Exp(a + b × X1,156 + 2 × s)
= Exp(a + b × 1,679 + 2 × s)
= Exp(7.7823 + -0.0013 × 1,679 + 2 × 0.0488)
= Exp(5.6883)
= $295.38
Bottom border of price channel:
Exp(Y1,156)
= Exp(a + b × X1,156 – 2 × s)
= Exp(a + b × 1,679 – 2 × s)
= Exp(7.7823 + -0.0013 × 1,679 – 2 × 0.0488)
= Exp(5.4929)
= $242.95
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(7.7823 + -0.0013 × 1,826 + 2 × 0.0488)
= Exp(5.4964)
= $243.80
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(7.7823 + -0.0013 × 1,826 – 2 × 0.0488)
= Exp(5.3010)
= $200.53
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 37.90% per annum.
- EXP price at the close of July 25, 2024 was inside the secondary price channel.