HSBC Begins Coverage on CRH (NYSE:CRH)

Analysts at HSBC assumed coverage on shares of CRH (NYSE:CRH) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $116.00 price target on the construction company’s stock. HSBC’s price objective would indicate a potential upside of 13.41% from the company’s previous close.

Several other analysts have also issued reports on CRH. Morgan Stanley upped their price objective on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial boosted their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. Barclays started coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. Finally, StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.55.

CRH Stock Up 1.6 %

Shares of NYSE:CRH traded up $1.61 during midday trading on Monday, hitting $102.28. The stock had a trading volume of 4,915,635 shares, compared to its average volume of 4,905,323. The business’s 50-day simple moving average is $91.44 and its 200-day simple moving average is $84.19. CRH has a 12 month low of $58.57 and a 12 month high of $102.51. The company has a market cap of $69.82 billion, a P/E ratio of 20.46, a PEG ratio of 1.44 and a beta of 1.29.

CRH (NYSE:CRH) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. CRH had a net margin of 9.86% and a return on equity of 16.71%. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, equities analysts predict that CRH will post 5.45 earnings per share for the current year.

Hedge Funds Weigh In On CRH

A number of institutional investors and hedge funds have recently bought and sold shares of CRH. Lazard Asset Management LLC increased its stake in shares of CRH by 35,497.5% in the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock valued at $438,455,000 after buying an additional 5,068,682 shares during the period. Legal & General Group Plc raised its position in CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after purchasing an additional 4,825,752 shares during the last quarter. TD Asset Management Inc raised its holdings in CRH by 2,199.7% during the 1st quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock worth $288,383,000 after purchasing an additional 3,197,092 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of CRH by 1,095.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after purchasing an additional 3,001,488 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of CRH by 103.9% in the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock valued at $348,112,000 after purchasing an additional 2,365,589 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Company Profile

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.