CRH’s (CRH) Overweight Rating Reiterated at Morgan Stanley

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

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

CRH Price Performance

CRH stock opened at $87.66 on Friday. CRH has a 1-year low of $86.84 and a 1-year high of $131.55. The business has a 50 day simple moving average of $98.36 and a two-hundred day simple moving average of $105.40. The company has a market capitalization of $58.32 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.62 and a beta of 1.33.

CRH (NYSE:CRH) last released its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The firm had revenue of $10.78 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter last year, the business posted $1.94 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that CRH will post 5.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Continuum Advisory LLC purchased a new stake in CRH during the second quarter valued at approximately $29,000. Riggs Asset Managment Co. Inc. raised its stake in shares of CRH by 1,835.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock valued at $30,000 after acquiring an additional 312 shares during the period. Bell Investment Advisors Inc lifted its holdings in shares of CRH by 51.2% in 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 last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of CRH in the 4th quarter worth about $33,000. Finally, Elyxium Wealth LLC purchased a new position in shares of CRH during the 4th quarter worth about $37,000. Institutional investors own 62.50% of the company’s stock.

About CRH

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.