CRH (NYSE:CRH) Sets New 52-Week Low Following Analyst Downgrade

Key Points

• CRH shares fell to a new 52-week low, trading near $80.21 after Truist Financial cut its price target from $130 to $105, while maintaining a buy rating.
• Despite the downgrade, analyst sentiment remains positive: CRH has an average “Buy” rating and a consensus price target of $134.19, substantially above its recent trading level.
• CRH reported quarterly EPS of $2.21, beating estimates of $2.02, while revenue rose 5.6% year over year to $10.78 billion. The company also paid a quarterly dividend of $0.39, representing a 1.9% annualized yield.

Crh Plc (NYSE:CRH - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday after Truist Financial lowered their price target on the stock from $130.00 to $105.00. Truist Financial currently has a buy rating on the stock. CRH traded as low as $80.29 and last traded at $80.2140, with a volume of 350412 shares. The stock had previously closed at $81.94.

Several other analysts have also recently issued reports on CRH. Wells Fargo & Company set a $106.00 price objective on shares of CRH in a research note on Monday. Berenberg Bank set a $140.00 price target on CRH in a research report on Tuesday, September 8th. Sanford C. Bernstein restated an "outperform" rating on shares of CRH in a report on Tuesday, June 23rd. Jefferies Financial Group lifted their price objective on CRH from $149.00 to $165.60 and gave the company a "buy" rating in a research note on Friday, June 26th. Finally, Stephens dropped their target price 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $134.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRH. Continuum Advisory LLC acquired a new position in shares of CRH in the 2nd quarter valued at approximately $29,000. Bell Investment Advisors Inc grew its position in shares of CRH by 51.2% during the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock worth $32,000 after buying an additional 103 shares in the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of CRH in the first quarter worth $38,000. Anchor Investment Management LLC acquired a new stake in CRH in the second quarter valued at $40,000. Finally, Manchester Capital Management LLC acquired a new stake in CRH in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Trading Down 0.9%

The stock has a market capitalization of $54.01 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.61 and a beta of 1.31. The stock's 50 day simple moving average is $92.75 and its 200 day simple moving average is $102.47.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The company's revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that Crh Plc will post 5.9 EPS for the current fiscal year.

CRH Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 14th. CRH's payout ratio is currently 27.51%.

About CRH

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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