CRH (NYSE:CRH) Hits New 52-Week High – What’s Next?

CRH plc (NYSE:CRH)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $104.37 and last traded at $104.25, with a volume of 2135756 shares changing hands. The stock had previously closed at $101.16.

Wall Street Analysts Forecast Growth

CRH has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays initiated coverage on CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. HSBC assumed coverage on shares of CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $107.75.

CRH Stock Down 1.7 %

The firm has a market cap of $70.26 billion, a P/E ratio of 20.69, a P/E/G ratio of 1.18 and a beta of 1.30. The business has a fifty day simple moving average of $97.10 and a 200-day simple moving average of $92.86.

Institutional Investors Weigh In On CRH

Hedge funds have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators purchased a new position in CRH in the 3rd quarter worth approximately $25,000. UMB Bank n.a. raised its stake in shares of CRH by 72.7% in the third 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 last quarter. Heck Capital Advisors LLC bought a new position in shares of CRH during the fourth quarter valued at $32,000. Meeder Asset Management Inc. purchased a new stake in shares of CRH during the third quarter valued at $35,000. Finally, Baillie Gifford & Co. raised its position in CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after buying an additional 162 shares during the last quarter. Institutional investors 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.