CRH (NYSE:CRH – Get Free Report) had its target price boosted by equities researchers at DA Davidson from $100.00 to $110.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. DA Davidson’s price target indicates a potential upside of 33.54% from the company’s previous close.
Several other research firms also recently commented on CRH. Stifel Nicolaus restated a “hold” rating and issued a $82.00 price target (up from $80.00) on shares of CRH in a research note on Monday, April 15th. Royal Bank of Canada started coverage on CRH in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 price target for the company. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $87.00 to $88.00 in a research report on Tuesday, July 9th. Stephens initiated coverage on shares of CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price target on the stock. Finally, Citigroup cut their target price on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.70.
CRH Stock Up 1.0 %
CRH (NYSE:CRH – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, equities research analysts expect that CRH will post 5.39 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of CRH. Norges Bank purchased a new position in shares of CRH in the fourth quarter valued at $1,014,454,000. Greenhaven Associates Inc. increased its position in shares of CRH by 0.8% during the second quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock valued at $833,782,000 after buying an additional 91,267 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of CRH by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after buying an additional 431,172 shares in the last quarter. Boston Partners boosted its position in shares of CRH by 13.1% in the fourth quarter. Boston Partners now owns 8,106,296 shares of the construction company’s stock valued at $560,933,000 after acquiring an additional 937,804 shares during the period. Finally, Putnam Investments LLC grew its stake in CRH by 3,384.4% during the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock valued at $469,022,000 after acquiring an additional 6,587,066 shares in the last quarter. 62.50% of the stock is owned by 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.
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