CRH (NYSE:CRH) Upgraded by DA Davidson to “Strong-Buy” Rating

CRH (NYSE:CRH) was upgraded by analysts at DA Davidson to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on CRH. Jefferies Financial Group upped their target price on shares of CRH from $149.00 to $165.60 and gave the stock a “buy” rating in a report on Friday, June 26th. Wells Fargo & Company decreased their price objective on shares of CRH from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Stephens dropped their price objective on shares of CRH from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Sanford C. Bernstein reiterated an “outperform” rating on shares of CRH in a research note on Tuesday, June 23rd. Finally, Weiss Ratings raised CRH from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, CRH presently has an average rating of “Buy” and an average price target of $140.57.

CRH Trading Up 0.7%

CRH stock opened at $96.42 on Monday. CRH has a 1-year low of $92.52 and a 1-year high of $131.55. The firm has a market cap of $64.15 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.77 and a beta of 1.34. The business’s 50 day moving average is $102.46 and its 200-day moving average is $108.14.

CRH (NYSE:CRH) last posted its earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.02 by $0.19. The business had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%.CRH’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.94 EPS. Sell-side analysts forecast that CRH will post 5.8 EPS for the current year.

Hedge Funds Weigh In On CRH

A number of large investors have recently modified their holdings of CRH. Kemnay Advisory Services Inc. bought a new position in CRH in the 4th quarter worth approximately $33,000. Continuum Advisory LLC acquired a new stake in shares of CRH in the 2nd quarter valued at $29,000. Meeder Asset Management Inc. increased its stake in shares of CRH by 29,400.0% in the 4th quarter. Meeder Asset Management Inc. now owns 295 shares of the construction company’s stock valued at $37,000 after buying an additional 294 shares during the period. Elyxium Wealth LLC bought a new stake in shares of CRH during the fourth quarter worth $37,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of CRH by 51.2% during the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company’s stock valued at $32,000 after acquiring an additional 103 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.