CRH (NYSE:CRH) Raised to Strong-Buy at Wells Fargo & Company

Key Points

• CRH has been upgraded to a "strong-buy" rating by Wells Fargo & Company, indicating positive expectations for the company's stock performance.
• Royal Bank of Canada revised its price target for CRH from $112.00 to $152.00, while other analysts set various price objectives, contributing to a consensus rating of "Buy".
• CRH reported a 5.7% year-over-year revenue increase but missed EPS estimates in its latest quarterly earnings, raising concerns about near-term performance.

CRH (NYSE:CRH - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on CRH. Royal Bank Of Canada upped their price objective on shares of CRH from $112.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Bank of America began coverage on shares of CRH in a report on Friday, September 26th. They issued a "buy" rating and a $128.00 price objective for the company. DA Davidson reaffirmed a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Jefferies Financial Group raised shares of CRH to a "strong-buy" rating in a report on Monday, September 22nd. Finally, Sanford C. Bernstein upped their price target on shares of CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, CRH currently has a consensus rating of "Buy" and an average target price of $127.21.

CRH Stock Performance

CRH stock opened at $117.54 on Wednesday. The company has a 50-day simple moving average of $112.05 and a 200-day simple moving average of $98.98. The firm has a market capitalization of $79.06 billion, a P/E ratio of 24.59, a P/E/G ratio of 1.67 and a beta of 1.32. CRH has a one year low of $76.75 and a one year high of $121.88.

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

Institutional Trading of CRH

Hedge funds have recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new stake in CRH during the second quarter valued at about $27,000. Park Place Capital Corp lifted its stake in CRH by 59.9% during the second quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock valued at $29,000 after buying an additional 115 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in CRH by 1,835.3% during the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company's stock valued at $30,000 after buying an additional 312 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in CRH by 255.0% during the second quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company's stock valued at $39,000 after buying an additional 306 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in CRH by 86.7% during the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after buying an additional 208 shares in 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.

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