DA Davidson Forecasts Strong Price Appreciation for CRH (NYSE:CRH) Stock

CRH (NYSE:CRH) had its target price increased by investment analysts at DA Davidson from $110.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. DA Davidson’s target price would suggest a potential upside of 19.82% from the stock’s previous close.

A number of other research firms also recently commented on CRH. Morgan Stanley lifted their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday. Barclays initiated coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Truist Financial raised their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.55.

CRH Price Performance

CRH opened at $100.15 on Monday. The stock has a market capitalization of $68.37 billion, a PE ratio of 20.46, a P/E/G ratio of 1.44 and a beta of 1.29. The firm’s fifty day moving average price is $91.68 and its 200 day moving average price is $84.37. CRH has a 12-month low of $58.57 and a 12-month high of $102.51.

Hedge Funds Weigh In On CRH

A number of hedge funds have recently modified their holdings of the stock. Dupont Capital Management Corp acquired a new stake in CRH in the 1st quarter worth approximately $13,492,000. Private Advisor Group LLC lifted its position in shares of CRH by 8.9% in the 1st quarter. Private Advisor Group LLC now owns 5,662 shares of the construction company’s stock worth $488,000 after acquiring an additional 463 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of CRH by 41.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,409 shares of the construction company’s stock valued at $2,192,000 after purchasing an additional 7,414 shares during the period. Empowered Funds LLC raised its stake in shares of CRH by 45.1% in the first quarter. Empowered Funds LLC now owns 9,062 shares of the construction company’s stock valued at $782,000 after purchasing an additional 2,818 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in CRH by 510.9% during the first quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock worth $1,963,000 after buying an additional 19,027 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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.