CRH (NYSE:CRH) Given New $107.00 Price Target at Wells Fargo & Company

CRH (NYSE:CRH) had its price target hoisted by research analysts at Wells Fargo & Company from $100.00 to $107.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 12.30% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Berenberg Bank set a $140.00 price objective on shares of CRH in a research report on Tuesday, September 8th. Jefferies Financial Group reduced their target price on shares of CRH from $159.50 to $126.50 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Stephens raised their target price on shares of CRH from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley decreased their price target on shares of CRH from $139.00 to $129.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, DA Davidson lowered their price target on CRH from $117.00 to $114.00 and set a “buy” rating for the company in a report on Monday. Nineteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, CRH currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.97.

CRH Trading Down 0.2%

Shares of CRH traded down $0.17 during trading hours on Friday, reaching $95.28. 653,724 shares of the company traded hands, compared to its average volume of 5,002,216. The stock’s fifty day moving average price is $87.18 and its 200 day moving average price is $103.68. The firm has a market cap of $63.39 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.88 and a beta of 1.33. CRH has a 12-month low of $78.62 and a 12-month high of $131.55.

CRH (NYSE:CRH) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. CRH had a net margin of 9.19% and a return on equity of 15.03%. The company had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter last year, the firm posted $2.21 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that CRH will post 5.55 earnings per share for the current year.

Insider Activity at CRH

In related news, Director Siobhan Talbot acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average cost of $94.63 per share, for a total transaction of $189,260.00. Following the purchase, the director directly owned 10,507 shares of the company’s stock, valued at $994,277.41. This trade represents a 23.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On CRH

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its position in shares of CRH by 7.7% during the second quarter. QRG Capital Management Inc. now owns 196,860 shares of the construction company’s stock valued at $21,064,000 after buying an additional 14,091 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of CRH by 13.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 332,198 shares of the construction company’s stock worth $35,545,000 after buying an additional 38,141 shares during the last quarter. Davis Rea LTD. grew its position in shares of CRH by 1,292.9% in the 3rd quarter. Davis Rea LTD. now owns 70,135 shares of the construction company’s stock worth $5,807,000 after buying an additional 65,100 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of CRH by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company’s stock worth $245,460,000 after buying an additional 93,106 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of CRH during the 2nd quarter worth approximately $2,229,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Company Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.