CRH (NYSE:CRH) Stock Price Expected to Rise, DA Davidson Analyst Says

CRH (NYSE:CRH) had its price objective raised by DA Davidson from $110.00 to $120.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Morgan Stanley boosted their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial boosted their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays initiated coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CRH presently has an average rating of “Moderate Buy” and an average target price of $105.55.

CRH Price Performance

Shares of NYSE:CRH opened at $102.31 on Monday. CRH has a 1-year low of $58.57 and a 1-year high of $102.51. The company has a market capitalization of $69.84 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.44 and a beta of 1.29. The firm’s 50 day simple moving average is $91.44 and its two-hundred day simple moving average is $84.19.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.262 per share. This represents a yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio (DPR) is 37.20%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. grew its holdings in shares of CRH by 336.4% in the second 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. Deseret Mutual Benefit Administrators bought a new position in shares of CRH in the third quarter worth about $25,000. UMB Bank n.a. grew its holdings in shares of CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of CRH in the third quarter worth about $35,000. Finally, Baillie Gifford & Co. grew its holdings in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

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.