Morgan Stanley Reaffirms Overweight Rating for CRH (NYSE:CRH)

CRH (NYSE:CRH)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a note issued to investors on Friday, Benzinga reports. They presently have a $139.00 target price on the construction company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 58.57% from the stock’s previous close.

Several other analysts have also issued reports on CRH. Stephens cut their target price on CRH from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Berenberg Bank set a $140.00 price target on CRH in a report on Tuesday. Truist Financial cut their price target on shares of CRH from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, July 31st. DA Davidson assumed coverage on shares of CRH in a research report on Monday, August 24th. They set a “buy” rating and a $137.00 price objective on the stock. Finally, Jefferies Financial Group raised their target price on shares of CRH from $149.00 to $165.60 and gave the stock a “buy” rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $139.57.

CRH Stock Down 1.9%

Shares of NYSE CRH opened at $87.66 on Friday. The business has a 50-day simple moving average of $98.36 and a two-hundred day simple moving average of $105.40. CRH has a 52 week low of $86.84 and a 52 week high of $131.55. The company has a market cap of $58.32 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.62 and a beta of 1.33.

CRH (NYSE:CRH) last posted its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. CRH’s revenue was up 5.6% on a year-over-year basis. Equities research analysts anticipate that CRH will post 5.9 EPS for the current year.

Institutional Trading of CRH

Several institutional investors have recently added to or reduced their stakes in CRH. Continuum Advisory LLC bought a new stake in CRH in the 2nd quarter worth about $29,000. Riggs Asset Managment Co. Inc. increased its holdings in CRH by 1,835.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after acquiring an additional 312 shares in the last quarter. Bell Investment Advisors Inc raised its stake in CRH by 51.2% during the 1st quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company’s stock worth $32,000 after acquiring an additional 103 shares during the period. Kemnay Advisory Services Inc. purchased a new position in CRH during the fourth quarter valued at approximately $33,000. Finally, Elyxium Wealth LLC bought a new position in shares of CRH in the fourth quarter worth approximately $37,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Company Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.