CRH (NYSE:CRH) Price Target Raised to $108.00

CRH (NYSE:CRH) had its price objective upped by Citigroup from $106.00 to $108.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

CRH has been the topic of a number of other reports. Royal Bank Of Canada decreased their price objective on CRH from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. Berenberg Bank set a $140.00 target price on CRH in a research note on Tuesday, September 8th. JPMorgan Chase & Co. initiated coverage on CRH in a report on Tuesday, October 13th. They set an “overweight” rating and a $115.00 target price for the company. BNP Paribas Exane decreased their price target on CRH from $157.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 16th. Finally, Rothschild & Co Redburn lowered their price target on shares of CRH from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, October 1st. Nineteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, CRH currently has an average rating of “Moderate Buy” and an average price target of $125.61.

CRH Price Performance

Shares of CRH stock opened at $98.95 on Monday. The stock has a market capitalization of $65.83 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.78 and a beta of 1.33. The company’s fifty day simple moving average is $87.22 and its two-hundred day simple moving average is $103.82. CRH has a 1 year low of $78.62 and a 1 year high of $131.55.

CRH (NYSE:CRH) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm 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 business’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 earnings per share. Equities research analysts anticipate that CRH will post 5.55 EPS for the current year.

CRH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.56 annualized dividend and a dividend yield of 1.6%. CRH’s dividend payout ratio is presently 29.27%.

Institutional Investors Weigh In On CRH

Institutional investors and hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC purchased a new stake in shares of CRH during the second quarter worth about $29,000. Cedar Mountain Advisors LLC bought a new stake in shares of CRH in the first quarter worth about $38,000. Anchor Investment Management LLC bought a new stake in shares of CRH in the second quarter worth about $40,000. Eastern Bank increased its holdings in CRH by 36.5% during the 2nd quarter. Eastern Bank now owns 550 shares of the construction company’s stock valued at $59,000 after purchasing an additional 147 shares during the period. Finally, Physician Wealth Advisors Inc. increased its holdings in CRH by 42.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 582 shares of the construction company’s stock valued at $48,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Company Profile

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.