CRH (NYSE:CRH) Coverage Initiated at Barclays

Equities researchers at Barclays began coverage on shares of CRH (NYSE:CRH) in a report released on Tuesday, MarketBeat reports. The firm set an “overweight” rating and a $110.00 price target on the construction company’s stock. Barclays‘s price target would suggest a potential upside of 14.61% from the stock’s current price.

A number of other equities research analysts have also weighed in on CRH. Citigroup cut their price objective on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. DA Davidson lifted their price objective on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Truist Financial lifted their price objective on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

CRH Price Performance

CRH opened at $95.98 on Tuesday. The stock’s 50 day simple moving average is $90.23 and its 200 day simple moving average is $83.20. CRH has a 1 year low of $53.42 and a 1 year high of $96.82. The firm has a market cap of $65.91 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.30 and a beta of 1.30.

CRH (NYSE:CRH) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. The company had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $10.16 billion. As a group, sell-side analysts anticipate that CRH will post 5.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRH. GHP Investment Advisors Inc. raised its stake in CRH by 336.4% during the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares during the last quarter. UMB Bank n.a. raised its stake in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after buying an additional 125 shares during the last quarter. Rothschild Investment LLC purchased a new position in CRH during the second quarter valued at $43,000. Quarry LP purchased a new position in CRH during the second quarter valued at $49,000. Finally, Blue Trust Inc. raised its stake in CRH by 341.7% during the second quarter. Blue Trust Inc. now owns 848 shares of the construction company’s stock valued at $64,000 after buying an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About CRH

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.