Citigroup Has Lowered Expectations for CRH (NYSE:CRH) Stock Price

CRH (NYSE:CRH) had its price objective reduced by analysts at Citigroup from $120.00 to $115.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 23.11% from the stock’s current price.

Several other brokerages have also recently weighed in on CRH. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. DA Davidson upped their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. HSBC began coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $107.75.

CRH Price Performance

Shares of CRH stock traded up $0.17 during trading hours on Monday, reaching $93.41. The company had a trading volume of 2,076,997 shares, compared to its average volume of 2,531,841. The firm has a market cap of $63.44 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29. CRH has a one year low of $66.42 and a one year high of $104.23. The business has a fifty day simple moving average of $98.04 and a 200 day simple moving average of $89.39.

Institutional Trading of CRH

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. increased its stake in shares of CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after buying an additional 259 shares during the period. Deseret Mutual Benefit Administrators bought a new stake in CRH in the 3rd quarter worth $25,000. UMB Bank n.a. increased its position 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 valued at $28,000 after acquiring an additional 125 shares during the period. Meeder Asset Management Inc. bought a new position in shares of CRH during the third quarter valued at about $35,000. Finally, Baillie Gifford & Co. boosted its holdings in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the period. 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.