CRH (NYSE:CRH) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage of CRH, assigning an "overweight" rating, indicating positive expectations for the stock's performance.
• CRH's recent earnings report showed a missed EPS estimate of $1.94 compared to the expected $2.06, with quarterly revenue of $10.21 billion.
• A prominent increase in hedge fund activity is noted, with Vanguard Group Inc. increasing its holdings by 62.8% in the first quarter.

Equities research analysts at JPMorgan Chase & Co. began coverage on shares of CRH (NYSE:CRH - Get Free Report) in a research note issued to investors on Friday. The brokerage set an "overweight" rating on the construction company's stock.

A number of other research analysts have also recently commented on the stock. Barclays boosted their target price on shares of CRH from $110.00 to $131.00 and gave the stock an "overweight" rating in a research report on Monday. UBS Group initiated coverage on shares of CRH in a research report on Tuesday, October 14th. They set a "buy" rating and a $138.00 target price on the stock. Bank of America initiated coverage on shares of CRH in a research report on Friday, September 26th. They set a "buy" rating and a $128.00 target price on the stock. Jefferies Financial Group raised shares of CRH to a "strong-buy" rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company raised shares of CRH to a "strong-buy" rating in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $127.71.

CRH Stock Performance

CRH opened at $117.84 on Friday. The company's 50 day simple moving average is $114.58 and its 200 day simple moving average is $100.97. CRH has a 1 year low of $76.75 and a 1 year high of $121.88. The stock has a market capitalization of $79.27 billion, a PE ratio of 24.65, a P/E/G ratio of 1.66 and a beta of 1.32.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.CRH's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. As a group, sell-side analysts expect that CRH will post 5.47 earnings per share for the current fiscal year.

Institutional Trading of CRH

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of CRH by 62.8% in the first quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock worth $5,608,567,000 after purchasing an additional 24,591,538 shares in the last quarter. Norges Bank acquired a new position in CRH in the second quarter worth approximately $1,007,932,000. Nuveen LLC acquired a new position in CRH in the first quarter worth approximately $597,888,000. Massachusetts Financial Services Co. MA increased its holdings in CRH by 43.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock worth $906,424,000 after buying an additional 3,108,416 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CRH by 58,695.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,830,994 shares of the construction company's stock worth $249,043,000 after buying an additional 2,826,179 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

About CRH

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.