Analysts Set CRH plc (NYSE:CRH) Target Price at $92.88

CRH plc (NYSE:CRH) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $93.11.

CRH has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Vertical Research initiated coverage on shares of CRH in a research note on Friday, March 22nd. They issued a “buy” rating and a $105.00 target price for the company. Stephens initiated coverage on shares of CRH in a research note on Tuesday. They issued an “overweight” rating and a $95.00 target price for the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $82.00 target price (up from $80.00) on shares of CRH in a research note on Monday, April 15th. Finally, Royal Bank of Canada initiated coverage on shares of CRH in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 target price for the company.

CRH Price Performance

Shares of CRH opened at $77.88 on Monday. The firm has a 50 day simple moving average of $79.73 and a 200-day simple moving average of $76.66. CRH has a 1-year low of $51.59 and a 1-year high of $88.00.

CRH (NYSE:CRH) last issued its quarterly earnings data on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.60 billion. Equities analysts forecast that CRH will post 5.36 EPS for the current year.

CRH Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, May 24th will be issued a $0.35 dividend. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from CRH’s previous Variable dividend of $0.23.

Hedge Funds Weigh In On CRH

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of CRH by 10,886.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 86,025 shares of the construction company’s stock valued at $7,421,000 after purchasing an additional 85,242 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of CRH by 7.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 396,410 shares of the construction company’s stock valued at $34,194,000 after acquiring an additional 28,000 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of CRH during the 1st quarter valued at $1,277,000. Cetera Investment Advisers lifted its holdings in shares of CRH by 286.4% during the 1st quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock valued at $4,671,000 after acquiring an additional 40,135 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of CRH by 161.7% during the 1st quarter. Atria Investments Inc now owns 56,665 shares of the construction company’s stock valued at $4,888,000 after acquiring an additional 35,009 shares in 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.