CRH (NYSE:CRH) Shares Gap Up – Here’s Why

Shares of Crh Plc (NYSE:CRH) gapped up before the market opened on Tuesday . The stock had previously closed at $114.59, but opened at $120.95. CRH shares last traded at $120.01, with a volume of 1,476,968 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRH. DA Davidson reissued a “neutral” rating and set a $105.00 target price (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $112.00 price objective (up previously from $108.00) on shares of CRH in a research note on Friday, August 8th. Sanford C. Bernstein increased their price target on CRH from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. Vertical Research upgraded CRH to a “strong-buy” rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. assumed coverage on shares of CRH in a report on Tuesday, August 26th. They issued an “overweight” rating and a $130.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, CRH has a consensus rating of “Buy” and a consensus target price of $117.00.

CRH Trading Up 4.3%

The stock has a market capitalization of $80.38 billion, a PE ratio of 25.06, a PEG ratio of 1.47 and a beta of 1.31. The firm’s 50-day simple moving average is $108.60 and its two-hundred day simple moving average is $97.79.

CRH (NYSE:CRH) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.12). The firm had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 EPS. As a group, research analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 22nd. CRH’s payout ratio is currently 23.22%.

Institutional Investors Weigh In On CRH

A number of large investors have recently bought and sold shares of CRH. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CRH by 86.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,894 shares of the construction company’s stock worth $1,563,000 after acquiring an additional 7,813 shares in the last quarter. GAMMA Investing LLC boosted its position in CRH by 11,109.4% during the first quarter. GAMMA Investing LLC now owns 168,814 shares of the construction company’s stock worth $14,851,000 after purchasing an additional 167,308 shares during the period. Cox Capital Mgt LLC boosted its position in CRH by 44.6% during the first quarter. Cox Capital Mgt LLC now owns 25,878 shares of the construction company’s stock worth $2,276,000 after purchasing an additional 7,986 shares during the period. Gradient Investments LLC boosted its position in CRH by 2.8% during the first quarter. Gradient Investments LLC now owns 5,175 shares of the construction company’s stock worth $455,000 after purchasing an additional 143 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in shares of CRH by 32.7% during the 1st quarter. Merit Financial Group LLC now owns 30,867 shares of the construction company’s stock worth $2,715,000 after buying an additional 7,614 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Company Profile

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.