CRH (NYSE:CRH) Earns Overweight Rating from Analysts at Barclays

by · The Markets Daily

Barclays assumed coverage on shares of CRH (NYSE:CRH – Free Report) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $110.00 target price on the construction company’s stock.

Several other equities analysts have also recently commented on the stock. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Citigroup reduced their price objective on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. DA Davidson lifted their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Truist Financial increased their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

View Our Latest Analysis on CRH

CRH Stock Up 0.4 %

Shares of NYSE:CRH opened at $95.84 on Tuesday. The business’s 50 day moving average is $90.49 and its 200 day moving average is $83.39. CRH has a 12-month low of $56.39 and a 12-month high of $96.82.

CRH (NYSE:CRH – Get Free Report) last posted its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. The firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. Analysts forecast that CRH will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.35 per share. This represents a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 23rd.

Hedge Funds Weigh In On CRH

Several large investors have recently modified their holdings of CRH. Wealth Enhancement Advisory Services LLC grew its stake in CRH by 30.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,651 shares of the construction company’s stock valued at $574,000 after buying an additional 1,558 shares in the last quarter. Norden Group LLC purchased a new position in shares of CRH in the first quarter valued at $4,041,000. First Trust Direct Indexing L.P. raised its stake in shares of CRH by 8.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 18,793 shares of the construction company’s stock valued at $1,621,000 after purchasing an additional 1,496 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in CRH by 14.2% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 12,866 shares of the construction company’s stock worth $1,110,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in CRH in the 1st quarter worth about $2,842,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Company Profile

(Get Free Report)

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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