CRH (NYSE:CRH) Stock Rating Reaffirmed as "Overweight" by JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed its “overweight” rating on CRH but cut its price target from $140 to $115, implying 43.62% potential upside from the stock’s $80.07 price.
• CRH shares fell 1.2% and are trading near their one-year low, well below their 50-day and 200-day moving averages. Despite recent target reductions from several brokerages, analysts maintain an overall “Buy” consensus with an average target of $127.61.
• CRH reported quarterly EPS of $2.21 versus the $2.02 consensus estimate, while revenue reached $10.78 billion, up 5.6% year over year. Institutional investors own 62.5% of the company’s stock.

CRH (NYSE:CRH - Get Free Report)'s stock had its "overweight" rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Tuesday, Benzinga reports. They currently have a $115.00 price target on the construction company's stock, down from their previous price target of $140.00. JPMorgan Chase & Co.'s target price suggests a potential upside of 43.62% from the company's current price.

Several other brokerages also recently weighed in on CRH. Sanford C. Bernstein reiterated an "outperform" rating on shares of CRH in a research report on Tuesday, June 23rd. Morgan Stanley started coverage on shares of CRH in a research report on Friday, September 11th. They issued an "overweight" rating and a $139.00 target price for the company. BNP Paribas Exane dropped their price target on shares of CRH from $157.00 to $110.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 16th. Stephens cut their price target on CRH from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, October 2nd. Finally, Truist Financial reduced their price objective on CRH from $130.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, CRH currently has an average rating of "Buy" and an average target price of $127.61.

CRH Stock Down 1.2%

CRH stock traded down $0.98 during mid-day trading on Tuesday, reaching $80.07. The company had a trading volume of 3,437,524 shares, compared to its average volume of 4,927,675. The stock has a market capitalization of $53.27 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.60 and a beta of 1.31. CRH has a one year low of $80.03 and a one year high of $131.55. The stock's 50-day simple moving average is $90.67 and its two-hundred day simple moving average is $101.57.

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 the consensus estimate of $2.02 by $0.19. The company had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The company's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 earnings per share. On average, research analysts forecast that CRH will post 5.90 EPS for the current fiscal year.

Hedge Funds Weigh In On CRH

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of CRH by 2.5% during the fourth quarter. Royal Bank of Canada now owns 10,808,439 shares of the construction company's stock worth $1,348,894,000 after purchasing an additional 262,175 shares during the period. Amundi grew its position in CRH by 74.7% during the first quarter. Amundi now owns 5,965,814 shares of the construction company's stock valued at $627,126,000 after purchasing an additional 2,550,178 shares in the last quarter. Bank of America Corp DE increased its stake in CRH by 3.8% in the 1st quarter. Bank of America Corp DE now owns 5,928,489 shares of the construction company's stock valued at $623,203,000 after buying an additional 216,822 shares during the period. Dimensional Fund Advisors LP increased its stake in CRH by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,831,618 shares of the construction company's stock valued at $507,784,000 after buying an additional 297,309 shares during the period. Finally, Lazard Asset Management LLC lifted its position in CRH by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company's stock worth $245,460,000 after buying an additional 93,106 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Company Profile

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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