CRH (NYSE:CRH) Stock Gets Price Target Cut from DA Davidson

CRH (NYSE:CRH) had its price target reduced by DA Davidson from $117.00 to $114.00 in a report issued on Monday, Marketbeat.com reports. DA Davidson currently has a buy rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the company. Citigroup cut their target price on CRH from $122.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Barclays lowered their price target on CRH from $131.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Stephens dropped their price objective on shares of CRH from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft set a $118.00 price objective on shares of CRH in a research report on Friday, October 9th. Finally, Truist Financial reduced their target price on shares of CRH from $130.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Nineteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, CRH has an average rating of “Moderate Buy” and a consensus target price of $125.61.

CRH Price Performance

Shares of NYSE CRH opened at $98.95 on Monday. CRH has a 1-year low of $78.62 and a 1-year high of $131.55. The business’s 50 day moving average is $87.22 and its two-hundred day moving average is $103.82. The stock has a market capitalization of $65.83 billion, a P/E ratio of 16.64, a PEG ratio of 1.78 and a beta of 1.33.

CRH (NYSE:CRH) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $11.40 billion during 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%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $2.21 EPS. As a group, equities research analysts anticipate that CRH will post 5.55 earnings per share for the current fiscal year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Friday, November 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, November 13th. CRH’s payout ratio is 29.27%.

Institutional Investors Weigh In On CRH

Several hedge funds and other institutional investors have recently modified their holdings of the business. Keybank National Association OH boosted its holdings in CRH by 42.9% during the 3rd quarter. Keybank National Association OH now owns 8,414 shares of the construction company’s stock valued at $697,000 after acquiring an additional 2,526 shares during the period. Narwhal Capital Management grew its position in CRH by 0.3% in the 3rd quarter. Narwhal Capital Management now owns 50,879 shares of the construction company’s stock valued at $4,213,000 after acquiring an additional 130 shares during the last quarter. Gryphon Financial Partners LLC grew its position in CRH by 5.6% in the 3rd quarter. Gryphon Financial Partners LLC now owns 4,393 shares of the construction company’s stock valued at $364,000 after acquiring an additional 232 shares during the last quarter. M&G PLC bought a new position in CRH in the 3rd quarter valued at $14,131,000. Finally, Allspring Global Investments Holdings LLC increased its stake in CRH by 2.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 29,304 shares of the construction company’s stock worth $2,394,000 after purchasing an additional 774 shares during the period. 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.