StockNews.com Downgrades CRH (NYSE:CRH) to Buy

StockNews.com lowered shares of CRH (NYSE:CRHGet Rating) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

A number of other analysts also recently commented on CRH. JPMorgan Chase & Co. boosted their target price on shares of CRH from €58.00 ($60.42) to €59.00 ($61.46) and gave the stock an overweight rating in a report on Friday, April 22nd. Zacks Investment Research upgraded shares of CRH from a hold rating to a buy rating and set a $44.00 target price on the stock in a report on Monday, May 16th. Barclays upgraded shares of CRH from an equal weight rating to an overweight rating in a report on Tuesday, April 19th. Redburn Partners lowered shares of CRH from a buy rating to a neutral rating in a report on Tuesday, March 22nd. Finally, Credit Suisse Group cut their price target on shares of CRH from €54.00 ($56.25) to €52.00 ($54.17) in a report on Thursday, March 17th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $51.09.

NYSE CRH opened at $39.67 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.48. The company’s 50 day simple moving average is $40.59 and its 200 day simple moving average is $46.46. CRH has a 12 month low of $37.47 and a 12 month high of $54.54.

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, March 17th were paid a $0.2266 dividend. This represents a yield of 3.1%. The ex-dividend date was Wednesday, March 16th. This is a positive change from CRH’s previous semi-annual dividend of $0.22.

A number of institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its stake in CRH by 7.2% in the 1st quarter. Advisors Asset Management Inc. now owns 130,983 shares of the construction company’s stock valued at $5,247,000 after buying an additional 8,790 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in CRH by 224.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 22,559 shares of the construction company’s stock valued at $904,000 after buying an additional 15,614 shares during the period. Goldman Sachs Group Inc. increased its stake in CRH by 0.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,019,169 shares of the construction company’s stock valued at $40,828,000 after buying an additional 5,024 shares during the period. Invesco Ltd. increased its stake in CRH by 5.7% in the 1st quarter. Invesco Ltd. now owns 881,505 shares of the construction company’s stock valued at $35,313,000 after buying an additional 47,797 shares during the period. Finally, Renaissance Technologies LLC increased its stake in CRH by 43.1% in the 1st quarter. Renaissance Technologies LLC now owns 64,700 shares of the construction company’s stock valued at $2,592,000 after buying an additional 19,500 shares during the period. Hedge funds and other institutional investors own 12.67% of the company’s stock.

About CRH (Get Rating)

CRH plc, through its subsidiaries, manufactures and distributes building materials. It operates in three segments: Americas Materials, Europe Materials, and Building Products. The company manufactures and supplies cement, lime, aggregates, precast, ready mixed concrete, and asphalt products; concrete masonry and hardscape products comprising pavers, blocks and kerbs, retaining walls, and related patio products; and glass and glazing products, including architectural glass, custom-engineered curtain and window walls, architectural windows, storefront systems, doors, skylights, and architectural hardware.

See Also

Analyst Recommendations for CRH (NYSE:CRH)

Receive News & Ratings for CRH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CRH and related companies with MarketBeat.com's FREE daily email newsletter.