With the S&P/ASX 200 Index (ASX: XJO) touching a new all-time high earlier this week, it's fair to say that the ASX 200 stocks making their investors happy are outnumbering those that have had a rough month right now. But one ASX 200 stock that decisively falls into the latter category right now would be Brickworks Ltd (ASX: BKW).

Since hitting a new 52-week (and all-time record) high of $31.37 around a month ago, the Brickworks share price has been falling ever since. Today, this diversified construction materials company is trading at $27.74 a share.

That may be up 0.33% for the day, but it puts Brickworks down a hefty 11.6% from its new high from early March.

If Brickworks had just traded ex-dividend, then maybe investors might find this drop easier to digest. However, investors can brace for another share price drop when Brickworks is actually scheduled to trade ex-dividend for its upcoming interim payment of 24 cents per share, fully franked, on 9 April next week.

Brickworks is a company that has an enthusiastic shareholder base, headlined by its largest shareholder,  the respected Washington H. Soul Pattinson and Co Ltd (ASX: SOL). It can also boast of a long history of delivering market-beating returns to investors. So is this pullback a buying opportunity today?

Well, much of the recent selling pressure afflicting this ASX 200 stock appears to have stemmed from Brickworks' latest half-year earnings report.

As we covered on 21 March, Brickworks reported a 6% decline in revenues to $547 million for the six months to 31 December. The company also revealed an underlying net loss of $37 million for the period.

However, one ASX expert reckons these earnings are nothing for shareholders to worry about. Late last month, my Fool colleague James covered the views of ASX broker Citi.

Citi thought that Brickworks' earnings were actually better than expected. In the wake of said earnings, this broker retained a 'buy' rating on this ASX 200 stock alongside a 12-month share price target of $35. If realised, this would see investors enjoy a potential upside of more than 26% over the coming 12 months, not including dividend returns.

Citi seemed to be buoyed by Brickworks' optimism over its future rental income potential, as well as the Australian construction industry more broadly.

So that's how one ASX expert sees this ASX 200 stock right now. No doubt, investors will be hoping that Citi is on the money here. But let's wait and see if Brickworks can indeed surpass its previous all-time high and hit $35 a share.