Truist Financial Issues Pessimistic Forecast for CRH (NYSE:CRH) Stock Price

CRH (NYSE:CRH) had its price target lowered by research analysts at Truist Financial from $130.00 to $105.00 in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price indicates a potential upside of 25.68% from the company’s previous close.

Several other brokerages have also weighed in on CRH. Stephens dropped their target price on CRH from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. DA Davidson assumed coverage on CRH in a research note on Monday, August 24th. They issued a “buy” rating and a $137.00 price target for the company. Weiss Ratings downgraded CRH from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. Morgan Stanley initiated coverage on shares of CRH in a research report on Friday, September 11th. They set an “overweight” rating and a $139.00 price objective on the stock. Finally, Citigroup reduced their target price on shares of CRH from $122.00 to $106.00 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $134.19.

CRH Stock Up 1.1%

Shares of NYSE:CRH opened at $83.54 on Monday. The firm has a fifty day moving average of $91.95 and a two-hundred day moving average of $102.18. The firm has a market capitalization of $55.58 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.62 and a beta of 1.31. CRH has a 12-month low of $80.13 and a 12-month high of $131.55.

CRH (NYSE:CRH) last posted its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the prior year, the business posted $1.94 earnings per share. CRH’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts expect that CRH will post 5.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CRH

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Waddell & Associates LLC boosted its stake in CRH by 3.8% in the 4th quarter. Waddell & Associates LLC now owns 2,352 shares of the construction company’s stock valued at $294,000 after purchasing an additional 87 shares during the period. Bell Investment Advisors Inc grew its holdings in CRH by 51.2% in the 1st quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company’s stock valued at $32,000 after buying an additional 103 shares in the last quarter. Acorn Wealth Advisors LLC increased its position in CRH by 4.3% during the 2nd quarter. Acorn Wealth Advisors LLC now owns 2,658 shares of the construction company’s stock worth $284,000 after buying an additional 109 shares during the period. Optas LLC lifted its holdings in shares of CRH by 4.5% during the first quarter. Optas LLC now owns 2,695 shares of the construction company’s stock worth $283,000 after buying an additional 117 shares in the last quarter. Finally, Cloverfields Capital Group LP lifted its holdings in shares of CRH by 0.3% during the first quarter. Cloverfields Capital Group LP now owns 37,937 shares of the construction company’s stock worth $3,988,000 after buying an additional 117 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

About CRH

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.