JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CRH (NYSE:CRH) Stock

CRH (NYSE:CRH) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $114.00 to $116.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 15.39% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Morgan Stanley raised their target price on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. HSBC assumed coverage on shares of CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. Truist Financial boosted their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Barclays initiated coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $106.42.

CRH Trading Up 0.3 %

Shares of CRH opened at $100.53 on Wednesday. The firm has a fifty day simple moving average of $93.93 and a two-hundred day simple moving average of $85.46. The firm has a market cap of $68.28 billion, a PE ratio of 20.11, a P/E/G ratio of 1.46 and a beta of 1.29. CRH has a 1-year low of $60.83 and a 1-year high of $102.51.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. lifted its holdings in shares of CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after buying an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators bought a new position in CRH during the third quarter valued at approximately $25,000. UMB Bank n.a. grew its holdings in shares of CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of CRH in the 3rd quarter worth about $35,000. Finally, Baillie Gifford & Co. lifted its stake in shares of CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.