Citigroup Has Lowered Expectations for CRH (NYSE:CRH) Stock Price

CRH (NYSE:CRH) had its target price cut by stock analysts at Citigroup from $120.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective would suggest a potential upside of 24.69% from the company’s current price.

CRH has been the subject of several other research reports. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Barclays began coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. HSBC initiated coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price for the company. Finally, Truist Financial increased their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $107.75.

CRH Stock Performance

Shares of CRH stock opened at $92.23 on Monday. CRH has a fifty-two week low of $66.42 and a fifty-two week high of $104.23. The stock has a 50 day simple moving average of $97.97 and a two-hundred day simple moving average of $89.63. The company has a market cap of $62.64 billion, a P/E ratio of 18.45, a PEG ratio of 1.25 and a beta of 1.31.

Institutional Investors Weigh In On CRH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators purchased a new position in CRH in the third quarter valued at about $25,000. UMB Bank n.a. raised its holdings in shares of CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the period. GHP Investment Advisors Inc. lifted its stake in CRH by 336.4% in the second 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. Meeder Asset Management Inc. bought a new position in CRH during the third quarter valued at $35,000. Finally, Baillie Gifford & Co. raised its stake in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors 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.