CRH (NYSE:CRH) Price Target Cut to $105.00 by Analysts at Truist Financial

Key Points

• Truist Financial lowered its CRH price target from $130 to $105 while maintaining a “buy” rating, implying approximately 28% upside from the stock’s $82.05 price.
• Analyst sentiment remains positive overall: CRH has a consensus “Buy” rating and an average price target of $134.19, despite several recent target reductions and one downgrade to “Hold.”
• CRH reported quarterly EPS of $2.21, beating estimates of $2.02, while revenue rose 5.6% year over year to $10.78 billion. Institutional investors own approximately 62.5% of the company.

CRH (NYSE:CRH - Get Free Report) had its price target reduced by equities research analysts at Truist Financial from $130.00 to $105.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Truist Financial's target price suggests a potential upside of 27.97% from the stock's current price.

A number of other research firms have also recently weighed in on CRH. Wells Fargo & Company set a $106.00 price target on CRH in a report on Monday. Stephens lowered their target price on CRH from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. UBS Group cut their price target on CRH from $147.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Weiss Ratings cut shares of CRH from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, September 16th. Finally, Citigroup cut their target price on shares of CRH from $122.00 to $106.00 and set a "buy" rating for the company in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $134.19.

CRH Stock Performance

CRH stock opened at $82.05 on Monday. The company has a market cap of $54.59 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31. CRH has a one year low of $80.81 and a one year high of $131.55. The business has a fifty day moving average of $92.75 and a two-hundred day moving average of $102.47.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter last year, the firm posted $1.94 EPS. The business's revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that CRH will post 5.9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC purchased a new stake in CRH during the second quarter worth approximately $29,000. Bell Investment Advisors Inc lifted its holdings in shares of CRH by 51.2% during the 1st quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock valued at $32,000 after acquiring an additional 103 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in CRH during the 4th quarter worth $43,000. Cedar Mountain Advisors LLC acquired a new stake in CRH in the 1st quarter valued at $38,000. Finally, Anchor Investment Management LLC purchased a new position in CRH in the second quarter valued at about $40,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

About CRH

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.

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