CRH (NYSE:CRH) Stock Price Target Lowered at DA Davidson

Key Points

• DA Davidson lowered CRH’s price target from $117 to $114 while maintaining a “Buy” rating, implying approximately 18.44% upside from the stock’s $96.25 price.
• Analyst sentiment remains broadly positive: 19 analysts rate CRH a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $124.97.
• CRH’s latest quarterly results slightly exceeded EPS expectations, with earnings of $2.09 per share versus $2.06 expected, although revenue of $11.40 billion fell short of the $11.56 billion estimate.

CRH (NYSE:CRH - Get Free Report) had its price objective cut by equities research analysts at DA Davidson from $117.00 to $114.00 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the construction company's stock. DA Davidson's price objective indicates a potential upside of 18.44% from the company's current price.

A number of other analysts have also recently weighed in on CRH. Berenberg Bank set a $140.00 price objective on shares of CRH in a report on Tuesday, September 8th. UBS Group reduced their price objective on CRH from $147.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. Wells Fargo & Company decreased their price objective on CRH from $106.00 to $100.00 and set an "overweight" rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft set a $118.00 target price on CRH in a research report on Friday, October 9th. Finally, Citigroup reduced their price target on CRH from $122.00 to $106.00 and set a "buy" rating for the company in a research report on Friday, October 2nd. Nineteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.97.

CRH Price Performance

Shares of NYSE CRH traded up $5.44 during mid-day trading on Monday, hitting $96.25. The company had a trading volume of 2,681,798 shares, compared to its average volume of 4,964,256. The stock has a market cap of $64.04 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.75 and a beta of 1.33. CRH has a 12 month low of $78.62 and a 12 month high of $131.55. The firm's 50 day simple moving average is $87.19 and its two-hundred day simple moving average is $104.24.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.03. The business had revenue of $11.40 billion during the quarter, compared to analyst estimates of $11.56 billion. CRH had a return on equity of 15.03% and a net margin of 9.19%. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 EPS. Equities analysts forecast that CRH will post 5.48 earnings per share for the current year.

Institutional Investors Weigh In On CRH

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. acquired a new stake in shares of CRH in the third quarter valued at $248,000. Chicago Partners Investment Group LLC boosted its stake in CRH by 128.4% during the third quarter. Chicago Partners Investment Group LLC now owns 8,201 shares of the construction company's stock valued at $696,000 after buying an additional 4,610 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in CRH during the third quarter worth about $10,110,000. Third View Private Wealth LLC acquired a new position in CRH during the third quarter worth about $251,000. Finally, Provenance Wealth Advisors LLC raised its position in CRH by 55,417.2% in the third quarter. Provenance Wealth Advisors LLC now owns 16,100 shares of the construction company's stock worth $1,333,000 after acquiring an additional 16,071 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

About CRH

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.

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