CRH (NYSE:CRH) Price Target Raised to $110.00

CRH (NYSE:CRH) had its price target lifted by Truist Financial from $100.00 to $110.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

Several other equities research analysts have also recently commented on the stock. Citigroup cut their price objective on shares of CRH from $109.00 to $99.00 and set a buy rating on the stock in a research report on Thursday, July 11th. Stephens began coverage on shares of CRH in a research note on Tuesday, June 18th. They issued an overweight rating and a $95.00 price target on the stock. Royal Bank of Canada began coverage on shares of CRH in a research note on Tuesday, May 14th. They issued an outperform rating and a $110.00 price target on the stock. Morgan Stanley upgraded shares of CRH from an equal weight rating to an overweight rating and lifted their price target for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Finally, StockNews.com lowered shares of CRH from a buy rating to a hold rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $95.70.

CRH Price Performance

Shares of NYSE CRH traded down $0.56 during midday trading on Friday, reaching $81.81. 326,268 shares of the stock were exchanged, compared to its average volume of 5,333,081. The business has a 50-day simple moving average of $78.12 and a two-hundred day simple moving average of $79.47. The company has a market capitalization of $56.18 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.34 and a beta of 1.30. CRH has a 12 month low of $51.59 and a 12 month high of $88.00.

CRH (NYSE:CRH) last posted its quarterly earnings data on Friday, May 10th. The construction company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The company had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.60 billion. Equities research analysts expect that CRH will post 5.39 earnings per share for the current fiscal year.

CRH Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a dividend yield of 1.7%. CRH’s dividend payout ratio is presently 25.59%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRH. GHP Investment Advisors Inc. increased its stake in shares of CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after purchasing an additional 259 shares during the last quarter. First Financial Corp IN bought a new position in CRH in the 1st quarter valued at about $26,000. Orion Capital Management LLC raised its holdings in CRH by 100.0% in the 4th quarter. Orion Capital Management LLC now owns 400 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. NBC Securities Inc. raised its holdings in CRH by 71.5% in the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after acquiring an additional 173 shares during the period. Finally, GAMMA Investing LLC bought a new position in CRH in the 4th quarter valued at about $37,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Company Profile

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.