HSBC Begins Coverage on CRH (NYSE:CRH)

Analysts at HSBC began coverage on shares of CRH (NYSE:CRH) in a report released on Monday. The firm set a “buy” rating and a $116.00 price target on the construction company’s stock. HSBC’s price target would suggest a potential upside of 15.83% from the company’s current price.

A number of other equities analysts have also weighed in on CRH. Morgan Stanley increased their price target on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial lifted their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Barclays began coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target for the company. StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, DA Davidson increased their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.55.

CRH Stock Performance

Shares of NYSE:CRH opened at $100.15 on Monday. The company has a market capitalization of $68.37 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.29. The stock has a fifty day moving average of $91.68 and a 200-day moving average of $84.37. CRH has a one year low of $58.57 and a one year high of $102.51.

Hedge Funds Weigh In On CRH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRH. Lazard Asset Management LLC grew its stake in CRH by 35,497.5% in the 1st 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 last quarter. Legal & General Group Plc boosted its holdings in CRH by 36,503.4% during the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after acquiring an additional 4,825,752 shares during the period. TD Asset Management Inc grew its position in shares of CRH by 2,199.7% in the first quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock valued at $288,383,000 after purchasing an additional 3,197,092 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of CRH by 1,095.0% in the first 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. lifted its position in shares of CRH by 103.9% during the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $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.

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.