CRH (NYSE:CRH) Downgraded to Equal Weight Rating by Wells Fargo & Company

CRH (NYSE:CRH) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $138.00 price target on the construction company’s stock, up from their prior price target of $133.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.34% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CRH. Royal Bank Of Canada reduced their price target on shares of CRH from $152.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. Truist Financial boosted their target price on shares of CRH from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Longbow Research initiated coverage on shares of CRH in a report on Tuesday, December 16th. They issued a “buy” rating and a $160.00 price target for the company. Jefferies Financial Group reissued a “buy” rating on shares of CRH in a research note on Monday, December 1st. Finally, DA Davidson raised their price objective on CRH from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, CRH has a consensus rating of “Moderate Buy” and a consensus price target of $136.20.

CRH Stock Down 3.0%

Shares of CRH stock opened at $127.38 on Tuesday. CRH has a twelve month low of $76.75 and a twelve month high of $131.55. The business has a 50-day moving average price of $121.22 and a 200-day moving average price of $113.24. The firm has a market cap of $85.38 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 1.93 and a beta of 1.34.

CRH (NYSE:CRH) last announced its quarterly earnings results on Wednesday, November 5th. The construction company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.27. CRH had a return on equity of 16.25% and a net margin of 9.30%.The company had revenue of $11.07 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the prior year, the company earned $1.97 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. On average, equities analysts expect that CRH will post 5.47 EPS for the current fiscal year.

Institutional Trading of CRH

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of CRH in the second quarter worth about $1,007,932,000. Eleva Capital SAS bought a new position in CRH in the 2nd quarter worth about $250,562,000. Massachusetts Financial Services Co. MA increased its position in shares of CRH by 24.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,803,346 shares of the construction company’s stock worth $1,175,347,000 after acquiring an additional 2,499,558 shares during the period. Artisan Partners Limited Partnership bought a new stake in shares of CRH during the third quarter valued at approximately $295,798,000. Finally, Marshall Wace LLP boosted its holdings in shares of CRH by 45.3% in the second quarter. Marshall Wace LLP now owns 6,031,903 shares of the construction company’s stock valued at $553,729,000 after purchasing an additional 1,881,550 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Company Profile

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.