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

CRH (NYSE:CRH) had its target price hoisted by Truist Financial from $125.00 to $140.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on CRH. Jefferies Financial Group upgraded CRH to a “strong-buy” rating in a research report on Monday, September 22nd. Vertical Research raised shares of CRH to a “strong-buy” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. started coverage on shares of CRH in a research report on Tuesday, August 26th. They issued an “overweight” rating and a $130.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of CRH in a research note on Tuesday, September 2nd. Finally, Bank of America started coverage on shares of CRH in a research note on Friday, September 26th. They set a “buy” rating and a $128.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, CRH has an average rating of “Buy” and an average target price of $124.31.

CRH Stock Performance

CRH stock opened at $120.01 on Thursday. The company has a market capitalization of $80.72 billion, a P/E ratio of 25.11, a PEG ratio of 1.74 and a beta of 1.32. The company has a fifty day moving average price of $110.42 and a 200-day moving average price of $98.42. CRH has a 52-week low of $76.75 and a 52-week high of $121.88.

CRH (NYSE:CRH) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.12). The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. As a group, sell-side analysts forecast that CRH will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 22nd. CRH’s payout ratio is presently 23.22%.

Institutional Investors Weigh In On CRH

Several hedge funds and other institutional investors have recently bought and sold shares of CRH. Creekmur Asset Management LLC acquired a new position in shares of CRH during the second quarter valued at about $27,000. Park Place Capital Corp increased its position in CRH by 59.9% in the 2nd quarter. Park Place Capital Corp now owns 307 shares of the construction company’s stock valued at $29,000 after buying an additional 115 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in CRH by 1,835.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after buying an additional 312 shares during the period. GW&K Investment Management LLC boosted its holdings in CRH by 86.7% in the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company’s stock worth $39,000 after acquiring an additional 208 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in CRH by 255.0% in the second quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company’s stock valued at $39,000 after acquiring an additional 306 shares during the period. 62.50% of the stock is owned by institutional investors.

About CRH

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.