CRH plc (NYSE:CRH) Receives $95.70 Consensus Price Target from Analysts

CRH plc (NYSE:CRH) has been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $95.70.

A number of equities research analysts have recently issued reports on CRH shares. DA Davidson upped their price objective on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup decreased their price objective on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Stephens initiated coverage on shares of CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 target price on the stock. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

CRH Stock Performance

Shares of CRH opened at $92.53 on Wednesday. CRH has a 12 month low of $51.59 and a 12 month high of $94.14. The firm has a fifty day simple moving average of $85.58 and a 200 day simple moving average of $82.07.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting the consensus estimate of $1.85. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. Equities research analysts anticipate that CRH will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a dividend yield of 1.7%.

Hedge Funds Weigh In On CRH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Financial Corp IN bought a new position in CRH in the first quarter valued at approximately $26,000. GHP Investment Advisors Inc. increased its stake in shares of CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after purchasing an additional 259 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of CRH by 71.5% during the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock worth $35,000 after buying an additional 173 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of CRH during the 2nd quarter worth $43,000. Finally, Quarry LP bought a new stake in shares of CRH during the 2nd quarter worth $49,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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.