CRH (NYSE:CRH) Hits New 52-Week High – Time to Buy?

CRH plc (NYSE:CRH) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $104.37 and last traded at $104.25, with a volume of 2135756 shares trading hands. The stock had previously closed at $101.16.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of research reports. DA Davidson increased their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. HSBC initiated coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Morgan Stanley boosted their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Truist Financial lifted their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CRH currently has an average rating of “Buy” and an average target price of $107.75.

CRH Price Performance

The business has a 50-day simple moving average of $97.02 and a two-hundred day simple moving average of $92.63. The stock has a market cap of $70.98 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 1.08 and a beta of 1.30.

Hedge Funds Weigh In On CRH

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of CRH by 33.4% during the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock valued at $3,341,258,000 after purchasing an additional 9,055,354 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in CRH by 515.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock valued at $473,270,000 after acquiring an additional 4,274,336 shares during the period. Franklin Resources Inc. raised its stake in shares of CRH by 8.7% during the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock valued at $1,329,796,000 after acquiring an additional 1,148,708 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in CRH by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock worth $796,546,000 after buying an additional 826,758 shares during the period. Finally, Nordea Investment Management AB raised its holdings in CRH by 48.2% during the 4th quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company’s stock worth $231,206,000 after purchasing an additional 808,061 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.