CRH (NYSE:CRH) Rating Increased to Overweight at Morgan Stanley

CRH (NYSE:CRH) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat.com reports. The firm presently has a $88.00 price objective on the construction company’s stock, up from their prior price objective of $87.00. Morgan Stanley’s price target would indicate a potential upside of 14.18% from the company’s current price.

CRH has been the subject of several other reports. Citigroup increased their price objective on CRH from $101.00 to $106.00 and gave the company a “buy” rating in a report on Friday, April 5th. Stephens initiated coverage on CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Royal Bank of Canada initiated coverage on CRH in a report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 price objective for the company. Truist Financial increased their price objective on CRH from $95.00 to $100.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $82.00 price objective (up from $80.00) on shares of CRH in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, CRH has an average rating of “Moderate Buy” and a consensus price target of $92.60.

CRH Stock Up 1.6 %

Shares of CRH opened at $77.07 on Tuesday. The stock has a 50 day moving average price of $78.38 and a 200 day moving average price of $77.54. CRH has a 52-week low of $51.59 and a 52-week high of $88.00.

CRH (NYSE:CRH) last announced its quarterly earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.60 billion. Research analysts anticipate that CRH will post 5.35 EPS for the current year.

Institutional Trading of CRH

Several large investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in CRH by 17.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 914 shares of the construction company’s stock valued at $79,000 after purchasing an additional 133 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of CRH by 3.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 4,748 shares of the construction company’s stock valued at $329,000 after acquiring an additional 155 shares during the last quarter. NBC Securities Inc. boosted its stake in shares of CRH by 71.5% during the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after acquiring an additional 173 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of CRH by 30.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock valued at $54,000 after acquiring an additional 183 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of CRH by 25.6% during the fourth quarter. Allworth Financial LP now owns 975 shares of the construction company’s stock valued at $67,000 after acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.