CRH (NYSE:CRH) Upgraded by Morgan Stanley to “Overweight”

CRH (NYSE:CRH) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, Marketbeat.com reports. The firm presently has a $88.00 price target on the construction company’s stock, up from their previous price target of $87.00. Morgan Stanley’s price target indicates a potential upside of 14.18% from the company’s current price.

Several other research analysts have also weighed in on the company. Royal Bank of Canada assumed coverage on CRH in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 target price on the stock. Truist Financial upped their target price on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Stephens started coverage on CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price objective on the stock. Stifel Nicolaus reissued a “hold” rating and set a $82.00 price objective (up previously from $80.00) on shares of CRH in a report on Monday, April 15th. Finally, StockNews.com lowered CRH from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.60.

CRH Price Performance

Shares of CRH stock opened at $77.07 on Tuesday. The stock has a 50-day moving average price of $78.38 and a 200 day moving average price of $77.54. CRH has a 1 year low of $51.59 and a 1 year high of $88.00.

CRH (NYSE:CRH) last issued its earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The firm had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.60 billion. On average, equities analysts forecast that CRH will post 5.35 earnings per share for the current fiscal year.

Institutional Trading of CRH

Several hedge funds have recently added to or reduced their stakes in the business. Csenge Advisory Group boosted its stake in CRH by 5.8% during the 2nd quarter. Csenge Advisory Group now owns 4,790 shares of the construction company’s stock valued at $359,000 after purchasing an additional 262 shares during the period. Gulf International Bank UK Ltd bought a new stake in shares of CRH in the 2nd quarter worth approximately $4,181,000. Renaissance Investment Group LLC lifted its position in shares of CRH by 5.0% in the 2nd quarter. Renaissance Investment Group LLC now owns 135,309 shares of the construction company’s stock worth $10,269,000 after acquiring an additional 6,384 shares during the period. Five Oceans Advisors bought a new stake in shares of CRH in the 2nd quarter worth approximately $614,000. Finally, Park Avenue Securities LLC lifted its position in shares of CRH by 11.1% in the 2nd quarter. Park Avenue Securities LLC now owns 29,102 shares of the construction company’s stock worth $2,169,000 after acquiring an additional 2,896 shares during the period. Institutional investors own 62.50% of the company’s stock.

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.