CRH (NYSE:CRH) Stock Rating Reaffirmed as “Overweight” by JPMorgan Chase & Co.

CRH (NYSE:CRH)‘s stock had its “overweight” rating reissued by research analysts at JPMorgan Chase & Co. in a report issued on Tuesday, Benzinga reports. They currently have a $115.00 price target on the construction company’s stock, down from their prior price target of $140.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 43.62% from the company’s previous close.

Several other equities research analysts have also recently commented on CRH. Rothschild & Co Redburn lowered their price target on CRH from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Wells Fargo & Company cut their price objective on shares of CRH from $107.00 to $106.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. UBS Group reduced their target price on shares of CRH from $147.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Truist Financial decreased their target price on shares of CRH from $130.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, Stephens dropped their price target on shares of CRH from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $127.61.

CRH Trading Down 1.2%

NYSE CRH traded down $0.98 on Tuesday, reaching $80.07. The stock had a trading volume of 3,437,524 shares, compared to its average volume of 4,927,675. The business has a 50 day moving average price of $90.67 and a 200 day moving average price of $101.57. CRH has a 1 year low of $80.03 and a 1 year high of $131.55. The company has a market capitalization of $53.27 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 1.60 and a beta of 1.31.

CRH (NYSE:CRH) last issued its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.19. CRH had a return on equity of 15.76% and a net margin of 9.93%. The company had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the firm posted $1.94 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. On average, analysts anticipate that CRH will post 5.90 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRH. Farther Finance Advisors LLC lifted its holdings in CRH by 18.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,508 shares of the construction company’s stock worth $1,036,000 after purchasing an additional 1,928 shares during the last quarter. Apella Capital LLC boosted its position in CRH by 19.8% during the third quarter. Apella Capital LLC now owns 4,584 shares of the construction company’s stock worth $373,000 after purchasing an additional 757 shares during the period. Gradient Investments LLC grew its holdings in CRH by 20.4% during the third quarter. Gradient Investments LLC now owns 56,273 shares of the construction company’s stock valued at $4,659,000 after purchasing an additional 9,534 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in CRH during the third quarter valued at approximately $235,000. Finally, Whalen Wealth Management Inc. raised its position in shares of CRH by 29.3% in the third quarter. Whalen Wealth Management Inc. now owns 5,436 shares of the construction company’s stock valued at $450,000 after purchasing an additional 1,233 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Company Profile

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.