CRH (NYSE:CRH) Price Target Cut to $115.00 by Analysts at Citigroup

CRH (NYSE:CRH) had its price objective lowered by Citigroup from $120.00 to $115.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other equities research analysts have also commented on CRH. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased 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. Morgan Stanley boosted their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Barclays initiated coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $107.75.

CRH Stock Performance

CRH stock opened at $93.49 on Monday. The business’s fifty day moving average is $98.02 and its two-hundred day moving average is $89.52. The firm has a market cap of $63.50 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.25 and a beta of 1.31. CRH has a 52 week low of $66.42 and a 52 week high of $104.23.

CRH Cuts Dividend

The business also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd were given a dividend of $0.262 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is currently 21.00%.

Institutional Trading of CRH

A number of hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. increased 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 in the last quarter. Deseret Mutual Benefit Administrators bought a new stake in shares of CRH in the 3rd quarter valued at $25,000. UMB Bank n.a. raised its stake in CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after buying an additional 125 shares during the period. Meeder Asset Management Inc. bought a new position in CRH during the third quarter worth about $35,000. Finally, Baillie Gifford & Co. grew its stake in 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 acquiring an additional 162 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.