Truist Financial Cuts CRH (NYSE:CRH) Price Target to $105.00

CRH (NYSE:CRH) had its price target decreased by Truist Financial from $130.00 to $105.00 in a research report report published on Monday, MarketBeat reports. Truist Financial currently has a buy rating on the construction company’s stock.

Several other research firms have also issued reports on CRH. Citigroup reduced their target price on shares of CRH from $122.00 to $106.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Morgan Stanley initiated coverage on shares of CRH in a report on Friday, September 11th. They set an “overweight” rating and a $139.00 price target on the stock. UBS Group dropped their price target on shares of CRH from $147.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Berenberg Bank set a $140.00 price objective on shares of CRH in a research note on Tuesday, September 8th. Finally, Weiss Ratings downgraded shares of CRH from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, CRH has a consensus rating of “Buy” and a consensus price target of $134.19.

CRH Stock Performance

NYSE:CRH opened at $81.34 on Monday. The stock has a 50-day simple moving average of $91.58 and a two-hundred day simple moving average of $102.04. CRH has a 52-week low of $80.13 and a 52-week high of $131.55. The firm has a market capitalization of $54.11 billion, a PE ratio of 14.35, a P/E/G ratio of 1.64 and a beta of 1.31.

CRH (NYSE:CRH) last issued its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. CRH had a return on equity of 15.76% and a net margin of 9.93%.The business had revenue of $10.78 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter in the prior year, the business posted $1.94 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that CRH will post 5.9 earnings per share for the current fiscal year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.9%. CRH’s payout ratio is currently 27.51%.

Institutional Investors Weigh In On CRH

A number of institutional investors have recently added to or reduced their stakes in the stock. Cooper Financial Group bought a new stake in shares of CRH during the third quarter valued at approximately $296,000. MFA Wealth Advisors LLC boosted its position in shares of CRH by 11.6% during the third quarter. MFA Wealth Advisors LLC now owns 47,765 shares of the construction company’s stock worth $3,955,000 after acquiring an additional 4,983 shares during the last quarter. Ridgewood Investments LLC purchased a new position in CRH during the third quarter valued at $271,000. Polaris Financial Partners purchased a new position in CRH during the third quarter valued at $538,000. Finally, QRG Capital Management Inc. increased its holdings in CRH by 7.7% in the 2nd quarter. QRG Capital Management Inc. now owns 196,860 shares of the construction company’s stock valued at $21,064,000 after acquiring an additional 14,091 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH News Roundup

Here are the key news stories impacting CRH this week:

• Positive Sentiment: Nordic acquisition expands aggregates platform: CRH agreed to acquire NCC Industry’s operations in Denmark and Finland, which produce and sell aggregates and asphalt for construction and infrastructure projects. The businesses include asphalt plants, land- and marine-based aggregate sites, and significant material reserves. CRH to Acquire Aggregate Operations in Denmark and Finland
• Positive Sentiment: Deal broadens regional scale: CRH and Heidelberg Materials agreed to acquire NCC’s Industry business area for an enterprise value of SEK 8.2 billion. The transaction should strengthen CRH’s presence in Northern European construction materials and could provide additional exposure to infrastructure demand. CRH and Heidelberg Materials acquire NCC Industry business
• Neutral Sentiment: Initial market reaction was favorable: Reports attributed a 1.15% gain in CRH shares to the Nordic transaction, indicating investors initially viewed the acquisition as strategically supportive. However, the ultimate effect will depend on the purchase price, financing, integration and acquired businesses’ profitability. CRH stock gains as Nordic deal expands aggregates
• Negative Sentiment: Wells Fargo lowered its CRH price target to $106: The target reduction signals more cautious expectations for the stock’s valuation or outlook and may be contributing to selling pressure, even though the revised target remains above the recent trading level. Wells Fargo cuts target for CRH stock

CRH Company Profile

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.