CRH (NYSE:CRH) Stock Price Target Lowered at Morgan Stanley

CRH (NYSE:CRH) had its target price lowered by investment analysts at Morgan Stanley from $139.00 to $129.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Morgan Stanley‘s price target would suggest a potential upside of 30.98% from the company’s previous close.

A number of other research analysts have also recently weighed in on CRH. Berenberg Bank set a $140.00 target price on shares of CRH in a research note on Tuesday, September 8th. Barclays dropped their price target on shares of CRH from $131.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Truist Financial upped their price target on shares of CRH from $105.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Citigroup upped their price target on shares of CRH from $106.00 to $108.00 and gave the company a “buy” rating in a report on Monday. Finally, Stephens increased their price objective on shares of CRH from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.61.

CRH Price Performance

Shares of NYSE:CRH traded up $4.96 during trading on Wednesday, hitting $98.48. The company had a trading volume of 2,953,749 shares, compared to its average volume of 4,992,451. The stock has a market cap of $65.52 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.85 and a beta of 1.33. The company has a fifty day simple moving average of $87.17 and a two-hundred day simple moving average of $103.94. CRH has a one year low of $78.62 and a one year high of $131.55.

CRH (NYSE:CRH) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $11.40 billion for the quarter, compared to analyst estimates of $11.56 billion. CRH had a return on equity of 15.03% and a net margin of 9.19%. CRH’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. On average, equities research analysts anticipate that CRH will post 5.52 earnings per share for the current year.

Institutional Investors Weigh In On CRH

Several hedge funds have recently made changes to their positions in CRH. Acorn Wealth Advisors LLC raised its holdings in shares of CRH by 4.3% in the second quarter. Acorn Wealth Advisors LLC now owns 2,658 shares of the construction company’s stock valued at $284,000 after acquiring an additional 109 shares in the last quarter. Cloverfields Capital Group LP lifted its stake in CRH by 0.3% in the first quarter. Cloverfields Capital Group LP now owns 37,937 shares of the construction company’s stock worth $3,988,000 after acquiring an additional 117 shares during the period. Angeles Wealth Management LLC lifted its stake in CRH by 5.9% in the second quarter. Angeles Wealth Management LLC now owns 2,312 shares of the construction company’s stock worth $247,000 after acquiring an additional 129 shares during the period. Modern Wealth Management LLC grew its holdings in CRH by 6.6% during the 1st quarter. Modern Wealth Management LLC now owns 2,260 shares of the construction company’s stock worth $240,000 after acquiring an additional 139 shares in the last quarter. Finally, Eastern Bank grew its holdings in CRH by 36.5% during the 2nd quarter. Eastern Bank now owns 550 shares of the construction company’s stock worth $59,000 after acquiring an additional 147 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

About CRH

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.