CRH (NYSE:CRH) Stock Rating Upgraded by DA Davidson

Key Points

• DA Davidson upgraded CRH to “strong buy,” joining a broadly positive analyst outlook. The stock has an average “buy” rating and a consensus price target of $140.57.
• CRH reported quarterly EPS of $2.21, exceeding the $2.02 consensus estimate, while revenue reached $10.78 billion and rose 5.6% year over year.
• Shares opened at $96.42, near the lower end of their 12-month range, and institutional investors own 62.5% of the company.

CRH (NYSE:CRH - Get Free Report) was upgraded by analysts at DA Davidson to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Stephens lowered their price target on shares of CRH from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Sanford C. Bernstein reiterated an "outperform" rating on shares of CRH in a research report on Tuesday, June 23rd. Jefferies Financial Group boosted their target price on shares of CRH from $149.00 to $165.60 and gave the company a "buy" rating in a research note on Friday, June 26th. Weiss Ratings upgraded shares of CRH from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company dropped their price target on shares of CRH from $135.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $140.57.

CRH Trading Up 0.7%

Shares of NYSE CRH opened at $96.42 on Monday. CRH has a twelve month low of $92.52 and a twelve month high of $131.55. The business has a 50 day simple moving average of $102.46 and a 200-day simple moving average of $108.14. The company has a market capitalization of $64.15 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.77 and a beta of 1.34.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period last year, the firm posted $1.94 EPS. The company's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts predict that CRH will post 5.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRH. Lazard Asset Management LLC grew its stake in shares of CRH by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company's stock valued at $245,460,000 after buying an additional 93,106 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in CRH by 13.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 332,198 shares of the construction company's stock worth $35,545,000 after acquiring an additional 38,141 shares during the period. Principal Financial Group Inc. lifted its position in shares of CRH by 33.2% during the 4th quarter. Principal Financial Group Inc. now owns 3,021,734 shares of the construction company's stock worth $377,112,000 after purchasing an additional 752,463 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in shares of CRH in the second quarter valued at approximately $2,229,000. Finally, Mirabaud Asset Management Ltd grew its position in CRH by 38.2% in the 4th quarter. Mirabaud Asset Management Ltd now owns 98,038 shares of the construction company's stock worth $12,235,000 after purchasing an additional 27,118 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH's core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.

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