Morgan Stanley Boosts CRH (NYSE:CRH) Price Target to $104.00

by · The Markets Daily

CRH (NYSE:CRH – Free Report) had its target price raised by Morgan Stanley from $95.00 to $104.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other analysts also recently weighed in on CRH. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. DA Davidson boosted their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Barclays assumed coverage on shares of CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $105.55.

Check Out Our Latest Analysis on CRH

CRH Stock Up 0.7 %

Shares of NYSE CRH opened at $99.89 on Monday. CRH has a twelve month low of $58.57 and a twelve month high of $102.51. The firm has a market cap of $68.19 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The business has a fifty day simple moving average of $92.20 and a two-hundred day simple moving average of $84.62.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given a $0.262 dividend. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is 32.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dupont Capital Management Corp acquired a new position in shares of CRH during the first quarter valued at about $13,492,000. Private Advisor Group LLC raised its holdings in shares of CRH by 8.9% in the first quarter. Private Advisor Group LLC now owns 5,662 shares of the construction company’s stock worth $488,000 after buying an additional 463 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of CRH by 41.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,409 shares of the construction company’s stock worth $2,192,000 after buying an additional 7,414 shares during the period. Empowered Funds LLC increased its position in shares of CRH by 45.1% in the 1st quarter. Empowered Funds LLC now owns 9,062 shares of the construction company’s stock valued at $782,000 after acquiring an additional 2,818 shares during the period. Finally, SG Americas Securities LLC raised its stake in CRH by 510.9% in the 1st quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock worth $1,963,000 after acquiring an additional 19,027 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

About CRH

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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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